MEMPHIS, Tenn. — Memphis freshman Derrick Rose announced he was jumping to the NBA today, the same day coach John Calipari agreed in principle to a contract extension with the school.

Rose capped his spectacular first season by leading Memphis to the national championship game, where they lost to Kansas in overtime.

The 6-foot-3 guard from Chicago averaged 20.8 points in six NCAA tournament games and will likely be taken with one of the top picks in the draft.

Terms of Calipari's deal have not been finalized.