The report said Smith has had face-to-face contact with that school's officials and was "close" to leaving Minnesota to take the Arkansas gig.
Update: During his weekly radio show Monday night, Smith said he expects to return to the university next season. He also said that a contract extension is in the works and should be completed soon. Smith, however, was not asked directly about the report linking him to the Arkansas job.
Well, it's March 14, also known as, "Where will Tubby go next? Day" in Minnesota.
The rumors aren't new. Smith has been connected to Oregon, Georgia Tech and Virginia in recent years. And each time, he's dismissed the offseason speculation and returned to coach the Gophers.
Smith has been working on an extension with the Gophers. His contract, which currently pays him $1.8 million per year, expires in 2014.
If Smith left the university, he wouldn't owe it a dime, per a provision in his contract. Also, Arkansas has the country's No. 7 recruiting class, according to ESPN.com. It features five-star point guard B.J. Young.
But I talked to a source close to the program who said Smith and his staff members met Monday afternoon to talk about junior college players they hope to evaluate before the end of the late signing period. The source also said Smith wouldn't use any other job as leverage in negotiations for his extension.