Missouri coach Mike Anderson, left, and players huddle up in the second half against Kansas on Monday, February 7, 2011 at Allen Fieldhouse.

Columbia, Mo. ? Missouri basketball coach Mike Anderson will remain Tigers coach, ESPN.com reported on Monday night.

ESPN’s sources confirmed a St. Louis Post-Dispatch report that the school was on the verge of finalizing a new deal with Anderson that will add two years to his current contract.

Also, Anderson will receive a bump in salary to nearly $2 million, up from his current pay grade of roughly $1.5 million, the sources told ESPN’s Andy Katz.

Anderson was rumored to be a candidate for the opening at Arkansas, where he was an assistant for 17 years. Arkansas fired coach John Pelphrey on March 13.

Anderson received a new seven-year deal last April after he interviewed for the Oregon coaching job.