Report: Penny Hardaway set to become next Memphis head coach

It appears Memphis has found its new head basketball coach.

Former NBA star Penny Hardaway agreed to a deal to become the Tigers' head coach, a source told ESPN's Jeff Goodman. A press conference featuring the announcement is expected Tuesday.

Hardaway would replace Tubby Smith, who was fired earlier this month after two seasons with the team.

The four-time All-Star was drafted third overall by the Warriors in 1993 and played in the NBA from 1993-2008 with Orlando, Phoenix, New York, and Miami. He doesn't have D-I experience, but did coach AAU basketball in the summer and won his third consecutive state title as the head coach of Memphis East High School.

Memphis is looking to inject some life into its program after failing to reach the NCAA tournament the last four seasons.