Jay Wright signs with Kentucky and 76ers

In a career move sure to send shock waves from Lexington to Philadelphia and beyond, Villanova head coach Jay Wright inked deals this weekend to become the next coach of both the Kentucky Wildcats and the Philadelphia 76ers.

Joint press conferences will be held simultaneously via Webcast from Lexington and Philadelphia on Monday, according to league and university officials.

Villanova resident and Sixers' executive Larry Brown brokered the deal. Widespread speculation about Wright's future with the 76ers arose this winter after Brown had been spotted at several Villanova basketball games.

No one, however, suspected that Brown was secretly recruiting for the Kentucky Wildcats, as well.

Kentucky had originally offered the job to Florida's Billy Donovan, but withdrew the offer when it became clear Wright would indeed accept both positions. Wright is expected to split his time equally between the teams, barring a proposed merger of the two squads under the name "Pennsyltucky."

Wright, who has manned the sidelines at Villanova for the past six seasons, signed a combined 4-year, $32 million contract with Kentucky and Philadelphia. The deal includes a $6 million "loyalty bonus" if Wright stays to the completion of the contract term with both teams.

According to sources, the package also contains a $401,000 annual budgetary provision for fine Italian business suits, diamond-studded buttons and cufflinks, and first-class airfare for trips to Wright's personal tailor in Milan.

Wright led Villanova to a 104-59 record during his tenure on the Main Line, and notched three NCAA Tournament appearances. He also coached the Wildcats to an Elite Eight and a Sweet 16 appearance.

Villanova Athletic Director Vince Nicastro said that the search for a new coach would begin immediately. According to Google News, the top candidates under consideration for the job are former Villanova coach Steve Lappas, Duke head coach Mike Krzyzewski, and St. Joseph's coach Phil Martelli.

Former Villanova star Jason Fraser is also expected to return to campus for a spot on the coaching staff, in order to teach Villanova's young big men the lost art of the double and (time-permitting) triple pump-fake.