Terry Holland withdrew his name from consideration as the new men's basketball coach at the University of Minnesota yesterday and indicated he would finish his career as athletic director at the University of Virginia, according to a statement Holland released through the school.

Minnesota athletic officials last week told Holland he would be offered the Gophers' job if he wanted it, a source close to the talks said. A seven-year deal in which Holland could have earned $800,000 to $1.2 million annually was available, according to published reports.

"I remain committed to the projects that are already under way to ensure the future of U-Va. athletics programs," Holland said in the statement. "I have every intention of continuing to work toward their completion during the remaining years of my career in athletics."

Holland, 57, is entering the final year of his original five-year contract as Virginia's athletic director. He took the Cavaliers to two Final Fours and compiled the most victories in school history during his 16 seasons as coach. He resigned to become athletic director at his alma mater, Davidson, in 1990.

The Charlottesville Daily Progress reported in Sunday's editions that Holland has negotiated a new, five-year contract. The newspaper quoted Holland as saying he did not use the Minnesota opening as leverage in those negotiations. Holland had expressed a desire to return to coaching under the right circumstances.

"That's great," said Gerry Capone, a U-Va. associate athletic director, upon hearing the news from a reporter. "Now, we can move on."

According to the Associated Press, Minnesota Athletic Director Mark Dienhart said in a written statement: "It is unfortunate that the timing wasn't right for Terry to pursue our opening. We will continue our search and are committed to hiring the best coach available as rapidly as possible."

Minnesota must replace Clem Haskins, who coached the Golden Gophers for 13 years. The school bought out his contract for $1.5 million this summer because the program was accused of numerous instances of academic fraud.