Report: Steve Masiello leaving Manhattan for USF

Steve Masiello coached Manhattan to the Round of 64 in this year's NCAA touranment. (Kevin C. Cox/Getty Images)

Manhattan basketball coach Steve Masiello will be named as the head coach at the University of South Florida later this week, according to Gary Parrish of CBSSports.com.

Parrish reports the deal is for five years at more than $1 million per year.

He cites sources as saying Masiello's hiring is supported by USF booster Chris Sullivan, a co-founder of Outback Steakhouse and an influential Tampa resident who is close with Louisville coach Rick Pitino. USF recently fired coach Stan Heath, whose seven years at the school ended after a 12-20 finish this season.

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Masiello, 36, a former Rick Pitino assistant, coached the Jaspers to the Round of 64 in this year's NCAA men's tournament, where they lost to Pitino's Cardinals. On Monday, Pitino admitted to TampaBay.com that his protege had asked him about the USF job.