Penny Hardaway was recently rumored to be a serious candidate for the vacant head coaching position of the Orlando Magic. However, the team legend is squashing those talks even before it affects his current status.

In a video announcement on Instagram, Hardaway confirmed that he is staying with the Memphis Tigers as he reiterated his mission to bring the national championship to the university, which he  said is something that he set out to do when he agreed to become head coach in 2018.

“One day in the future, I would love to coach in the NBA. And wouldn’t that be great if it were the Orlando Magic? But today isn’t that day,” Hardaway shared, per Michael Scotto of Hoops Hype.

Penny Hardaway played for the Magic from his rookie season in 1993 to 1999, during which he became a four-time All-Star. It's safe to say he had the most success with the franchise, averaging 19.0 points, 4.7 rebounds, 6.3 assists and 1.9 steals during his six-year stay in Orlando.

Given his history with the Magic, it  is not surprising why there are some excitement about the potential of him coaching the  squad. Orlando also has a young crop of guards that can learn from Hardaway, so it seemed to be a good match.

Unfortunately, it looks like the Magic have to look elsewhere for their next head coach that could replace Steve Clifford.