Raise your hand if you saw this coming.
The newspaper report claims that Pitino will lead Puerto Rico in the Olympic Qualifying Tournament next summer in Argentina, and then - should the squad qualify - in the 2012 London Olympic Games. The Puerto Rico Athletics Federation is hoping to get him down to the commonwealth and present him as their head coach before Christmas.
Basically, Pitino is signing on to be the Coach K of Puerto Rico.
The length and financial terms of the contract have not been disclosed, but Pitino's desire to coach in the Olympics and Puerto Rico's likelihood of qualifying are cited as the main factors behind the deal.
For what it's worth, the other major newspaper in Puerto Rico is saying that this deal has not been finalized, but that it should be within the next 24-38 hours. So whether it's done yet or not, it appears Pitino is going to get this gig.
As long as this doesn't detract in any way from his work at Louisville...cool...I guess.