Gerry Gimelstob, who in four years brought George Washington University's basketball team back to respectability, is considering several coaching opportunities elsewhere and may resign, it was learned last night.

Steve Bilsky, GW's athletic director, refused comment, but acknowledged that Gimelstob has other options. Bilsky indicated he expected Gimelstob to make his decision shortly whether or not he will remain.

Gimelstob's record over four years at George Washington is 58-55. He recently signed a four-year contract.

"This a good job," Gimelstob said last night of his present position. "But I have some other opportunities in coaching that I am thinking about. I will make up my mind shortly."

Gimelstob is supposed to meet with Bilsky, his assistant coaches and perhaps his players today. A decision could be made by the end of the day.

The Colonials were 14-14 in a season that began with much promise, but was marked by injuries to star center Mike Brown and freshman Max Blank. Also, Gimelstob ignited a controversy when he suspended Troy Webster and Joe Dooley for one game each because of conduct detrimental to the team. Some players questioned Gimelstob's action over the suspensions.

George Washington was 17-12 a season ago, and with Brown returning, and Blank, a high school star from Philadelphia, signed, figured to be much improved. But Brown injured a toe early in the season, slowing him considerably. A knee injury kept him on the bench most of the year.

Gimelstob came to GW from Indiana, where he was an assistant coach for three years under Bob Knight. He was highly recommended for the job by Red Auerbach, a GW alumnus and former boss of the Boston Celtics.

Gimelstob is considered a hard worker, often fiery and frequently demanding on his players and staff.