ABC affiliate WHAS11 in Louisville reported last night that Billy Gillispie has been fired at Kentucky.

Story:

http://www.whas11.com/justposted/stories/WHAS11_090326_Top_g…

Video:

http://www.whas11.com/video/index.html?nvid=346089…

The UK Athletic department has issued this statement:

"UK men’s basketball coach Billy Gillispie has not been fired. There have been no meetings between Gillispie and UK officials today, and there is no scheduled press conference for tomorrow."

This is developing into a very strange situation. Is he out or not? Gillispie just finished his 2nd year of a 7-year deal which pays him about $2.3 million annually. From what I understand, Gillispie’s buyout would be around $6 million – $1.5 million per year for a maximum of 48 months. That’s a big chunk of change to swallow.

We’ll keep you updated as we hear more.