George Raveling, basketball coach at Washington State the past 11 seasons and an assistant at Maryland before that, is the new coach at the University of Iowa, sources at the annual convention of the National Association of Basketball Coaches said today.

"I don't have any comment," Raveling said, when asked to confirm the report that he will replace Lute Olson, who resigned last week to become coach at the University of Arizona for an annual income package in the $200,000-$225,000 range.

Iowa is expected to announce Raveling's appointment by midweek. Raveling's income and length of contract were not known. But when Olson quit, he was on a 10-year contract and reportedly had one of the more profitable basketball camps in the nation. He received the 10-year contract after Iowa went to the final four in 1980.

The sources cited three reasons why Raveling is leaving Washington State, a Pacific-10 Conference school located in Pullman, Wash. Raveling would have a better location in which to recruit players (Iowa City being only four hours from Chicago), an outstanding team returning and a significant increase in salary.

Raveling has been successful at Washington State despite having to recruit nationally for players. The starters on his team that lost to Virginia in this year's NCAA tournament came from Texas, Oregon, California, Georgia and Michigan. An earlier 22-6 team that included Don Collins, now with the Washington Bullets, had three starters from Michigan and another from Ohio, prime territory for Big 10 recruiting.