Mike Gundy reportedly declined a six-year, $42 million offer to become the Tennessee Volunteers' new head coach following a face-to-face meeting in Dallas on Tuesday, according to college football insider Brett McMurphy.

Minutes after the news broke, Gundy reaffirmed his allegiance to the Oklahoma State Cowboys with a post on Twitter:

Gundy's decision is a major win for the Cowboys—who have flourished under the 50-year-old's leadership.

Dating back to his head coaching debut in 2005, Gundy has led his alma mater to a record of 113-53, including 12 straight winning seasons and seven bowl victories.

The Cowboys also topped out at No. 2 in the Associated Press Top 25 rankings during the 2011 season with Gundy at the helm.

The Volunteers, meanwhile, will be left to scramble as they try to pinpoint a new coach after they "backed out of a memorandum of understanding with Ohio State defensive coordinator Greg Schiano," according to ESPN.com's Chris Low.

Following that fiasco, Low reported Tennessee "reached out" to Purdue Boilermakers boss Jeff Brohm and Auburn Tigers defensive coordinator Kevin Steele.

Sports Illustrated's Bruce Feldman confirmed the school's interest in Brohm and added NC State head coach Dave Doeren is on the Vols' radar.