12/06/2012 01:24 pm ET Updated Dec 06, 2012

Butch Jones Declines University Of Colorado Buffs' Coaching Job Offer

Despite early reports that Butch Jones had accepted the University of Colorado's offer to coach the Buffs' football team, multiple sources are reporting that Jones has instead declined CU's offer and will remain at Cincinnati.

Jones reportedly received a counter offer from Cincinnati, where he currently coaches the Bearcats, and decided to remain on as head coach there through 2013, The Boulder Daily Camera reported.

The Denver Post first reported Wednesday that Jones had accepted CU's job offer, which Jones reportedly responded to by saying it was "absolutely false." Cincinnati Bearcats Associate SID Ryan Koslen also denied the reports on Twitter:

Football Scoop reported that University of Colorado apparently pulled out the big guns in their attempt at landing Jones:

But unfortunately it was all for naught. Jones turned down a lucrative deal with CU -- the school offered a five-year $13.5 million deal as well as upgrades to Folsom Field, Dal Ward Athletic Center and Buffs' practice facilities, according to The Denver Post.

CU hoped Jones would be the replacement for recently fired Jon Embree who only spent two seasons as head coach and led the football team to a dismal 4-21 record, as well as the worst season in the team's history just this last season at 1-11.

However, the firing of Embree earned the school quite a black eye with many sports personalities coming out against the firing, especially former Buffs' head coach Bill McCartney who blasted the Buffs decision saying Embree's firing "offends every person of color."

Bronson Hilliard, CU spokesman, responded to McCartney by saying that the ex-coach was misrepresenting Phil DiStefano's decision to let Embree go. "The chancellor said we didn't hire Jon Embree because he's African-American and we didn't fire him because he's African-American," Hilliard told The Daily Camera.

CU Buffs' Football Coach Jon Embree Fired
CU Buffs' Football Coach Jon Embree Fired