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DeRozan, a freshman, also said Floyd's return gave him more to think about.
"He built this program up big and it's nothing but big things that can happen for the school and he proved it. I came here to play for Tim Floyd and he's going to play a big part in my decision. We're just going to have to wait and see."
USC athletic director Mike Garrett had given Arizona officials permission to talk to Floyd, who told Garrett he wanted to hear what the school had to say.
"I viewed it as an elite program in this country and I was really interested in what constituted it as an elite program," Floyd said about the Wildcats, who just made their 25th consecutive appearance in the NCAA tournament.
"I looked if I could envision myself being a part of it and in the end I could not. We already have everything in place to do something very, very special here. This will be the last time I look unless the administration gets tired of me."
Garrett called Floyd a "tremendous asset" to USC's basketball program at a school where the nationally ranked football team is a perennial power.
"The future is very bright here under Tim's direction," he said in a statement. "We talked today and we expressed our commitment to each other. We are both excited about our prospects for next season, especially if we have the team we think we'll have."
Floyd has three years remaining on his USC contract.
"Hopefully, they'll add a year or two. That would be great," he said.
Floyd's previous college stints were at Iowa State, New Orleans and Idaho. He coached the NBA's Chicago Bulls from 1999-2002 and the New Orleans Hornets from 2003-04.
[Associated Press;
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