In a shocking move that will send ripples throughout the college basketball world, Kentucky men's basketball head coach John Calipari, who has led the Wildcats since 2009, is leaving to take the same position at the University of Arkansas. ESPN's Pete Thamel reports the deal will be finalized “within the next 24 hours.”

John Calipari is finalizing a five-year contract to become Arkansas' next coach, according to sources, with the deal expected to close within the next 24 hours.

— Pete Thamel (@PeteThamel) April 8, 2024

Calipari is one of the winningest coaches in the history of the sport with 855 career wins across three different programs. He led the Wildcats to a national championship in 2012 and Final Four appearances in 2011, 2014 and 2015. During his tenure, UK produced a record number of NBA talents, including current All-Stars Devin Booker, Shai Gilgeous-Alexander, Anthony Davis and Karl-Anthony Towns.

But Kentucky hasn't been able to replicate that success in recent years: The Wildcats haven't made it to the Sweet Sixteen since 2020 and have suffered several embarrassing first-round exits, including a loss to No. 15 seed St. Peter's in 2022 and an upset by No. 14 seed Oakland just two weeks ago.

Related: Oats signs contract extension for biggest buyout in the country

When news of Calipari's departure broke, national college basketball analyst Jeff Goodman reported that the legendary coach had been “totally miserable” in Lexington.

“Kentucky is now exonerated. They had to pay $32 million to fire Calipari. Now they're paying him $0. I spoke to a source who said Calipari is “really miserable” at Kentucky. This is a win-win. For Arkansas and for Kentucky.” Goodman Hoopshttps://t.co/k3kEwuH82B

— The Field of 68 (@TheFieldOf68) April 8, 2024

Calipari, who signed a lifetime contract with Kentucky in 2019, was owed $32 million if he were to be released. Because he left school of his own accord, the Wildcats are not obligated to pay him any money.

According to John Fanta of FOX Sports, Calipari's contract at Arkansas is for five seasons and an annual salary of $8 million, a slight reduction from his $8.5 million salary at UK, but the Razorbacks' upcoming NIL commitment is rumored to be “huge.”

John Calipari's contract will be worth $8 million per year for five seasons at Arkansas, Fox Sports sources confirmed. The biggest factor is the amount of NIL $$$ pledged by Razorbacks donors. We're hearing their support level is “huge.”

— John Fanta (@John_Fanta) April 8, 2024

Calipari was reportedly influenced by significant financial backing from the Tyson family, Arkansas backers and the billionaire owner of Tyson Foods, who has close ties to the Tyson family and calls its patriarch, John, a “longtime friend.”

Sources say the Tyson family (Arkansas' largest donors) is willing to donate a large amount to bring Cal to Arkansas.

Calipari has had a very close relationship with the Tyson family for many years.

This story is circulating as key advocates are optimistic that this can be achieved.

— Matt Norlander (@MattNorlander) April 8, 2024

Arkansas' coaching search began last week when Eric Musselman was recruited by USC from Fayetteville. The Razorbacks initially targeted Mississippi's Chris Beard and Kansas State's Jerome Tang but failed to reach an agreement with either. Rumors of interest in Calipari began circulating Saturday and picked up steam through Sunday afternoon.

Wes Moore, a TV host from Little Rock, First to definitively report Calipari's commitment to Arkansas. As the night went on, CBS Sports, ESPN, Athletic.

Goodman named Alabama's Nate Oats and Auburn's Bruce Pearl as “guys to watch” for the vacant Kentucky head coaching job, along with Baylor coach Scott Drew.

Notable Kentuckians:

Nate Oats (acquired for $18 million)
Scott Drew (4.5 million)
Bruce Pearl (7 million)

Billy Donovan (NBA)

— Jeff Goodman (@GoodmanHoops) April 8, 2024

This isn't the first time Oats' name has come up in coaching searches this offseason. He was rumored to be a Michigan target last month and recently signed a contract extension with the Crimson Tide that increased his buyout from $10 million to $18 million. Kentucky would have to pay a steep price to pry Oats away from Alabama. Oats is by far the most expensive candidate the Wildcats could pursue.

Bruce Pearl's previous jobs include: LouisvilleUL is another wealthy program in the Kentucky area, but most analysts agree Pearl courted UL in order to secure a contract extension and a pay raise at Auburn. AthleticKentucky athletic director Mitch Barnhart also has no interest in hiring a coach who has served a three-year NCAA show cause sanction, as Pearl did from 2011-2014.

Neither Oats nor Pearl have yet been explicitly involved in Kentucky's recruiting efforts, and it's unclear if either wants to leave their current jobs, despite Kentucky's vast resources.

Charles Vaughn is a contributing writer for Yellow Hammer News.