Hubert Davis will not return as North Carolina's coach

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North Carolina head men's basketball coach Hubert Davis will not return next year, the program announced, bringing a conclusion to a tumultuous week after the Tar Heels' stunning loss to VCU in the first round of the men's NCAA tournament.

Davis informed his team of his departure on Tuesday night, sources said. His exit looms large over a historic program that's long leaned into alumni and the so-called Carolina Way and opens up one of the most coveted positions in all of basketball.

Davis has nearly $5.3 million of guaranteed money left on his deal and the university said it would "honor the terms" of his contract in a statement Tuesday night. A…