ORLANDO, Fla. — The Orlando Magic may have nearly turned back the clock for their next coaching hire.

Rumors had swirled since Sunday that the team could bring back four-time All-Star and team hall of famer Anfernee Hardaway back in the fold as they searched for a new coach. The hire would have had Magic fans buzzing.

Hardaway though, is not quite ready to leave his alma mater.

He announced on his Instagram page that he is returning to Memphis, while leaving the door open to come to the NBA one day.

"Just like I had dreams coming out of college to make it to the NBA and I achieved those goals," Hardaway said on Instagram, "it was a huge goal and a huge dream that happened for me. One day in the future, I would love to coach in the NBA. And wouldn't that be great if it were for the Orlando Magic? But today isn't that day."

Hardaway emerged as a serious candidate for the Magic's job, according to several reports Sunday, after the team interviewed him while at the NBA Draft Combine in Chicago. He had long been a popular name with fans to replace coach Steve Clifford after the team parted ways with their coach of three years three weeks ago.

Hardaway, though, said he still had some unfinished business at his alma mater. Hardaway has accumulated a 63-32 record at Memphis in three years, making the NIT twice and winning it last season. But Hardaway has yet to lead his Tigers to the NCAA Tournament. Despite some recruiting success, reaching college basketball's top tournament has eluded him.

The Magic are still looking for a coach as they prepare for the July 29 NBA Draft.

For the team and its legendary point guard, the timing was not right to join up yet again.