Multiple sources are reporting that Arkansas has hired a new head coach and the good news for Cowboys fans is it's not Mike Gundy.

Joe Schad from ESPN is reporting that Arkansas has hired Wisconsin coach Bret Bielema to be the be the next coach of the Razorbacks.

The Internet was buzzing with rumors that Oklahoma State football coach Mike Gundy would be the new coach for Arkansas.

The rumors started on Twitter with this tweet:  "Per @DavidBazzel OK St Mike Gundy next Hog coach" not exactly the homerun I was waiting for..."

Since then every sports person in the country had jumped on the bandwagon, with some saying this was just smoke screen before they announce the real head coach. Others are saying an offer had been made, but all parties involved have until Wednesday to make a decision.

USA Today reported that Gundy was  not going to Arkansas.

Gundy has coached his alma-mater for eight seasons, calling the gig his "Yankees Job" or in other words, dream job. He has the Cowboys to a 66-35 record during his tenure, winning 48 games over his past five seasons.

Gundy signed an eight-year, $30.3-million extension with Oklahoma State following the Cowboys' Fiesta Bowl victory earlier this year. The contract runs through 2019.

The 45-year old Midwest City native was named Big 12 Coach of the Year in 2010 after leading OSU to an 11-2 season that included a victory over Arizona in the Alamo Bowl. He took it to the next level in 2011, earning the Paul "Bear" Bryant College Coach of the Year Award and the Eddie Robinson National Coach of the Year Award presented by the Football Writers Association of America after leading Oklahoma State to a 12-1 record, its first-ever Big 12 championship and BCS bowl game appearance.

Arkansas struggled to a 4-8 season in 2012 after back to back seasons of double-digit wins. Bobby Petrino was fired as coach of the Razorbacks prior to the 2012 season after he wrecked his motorcycle while riding with former Arkansas volleyball player Jessica Dorrell, injuring himself and revealing the adulterous relationship between the two. John L. Smith took over and coached the Hogs in 2012.

Gundy has also been linked to the Tennessee job but, again, they are just rumors at this point.

OSU (7-5) will play Purdue (6-6) in the Heart of Dallas Bowl on New Year's Day and is set to open the 2013-2014 season against Mississippi State in Houston.