Matta met with Georgia officials twice this past week and was offered the head coaching job, sources told ESPN. Matta also met with officials at Ole Miss earlier this month.
Georgia recently fired coach Mark Fox, who went to two NCAA tournaments in nine seasons.?Fox was 163-133 at Georgia.
"It was the most difficult decision because Georgia is a tremendous opportunity for a coach to build a great program," Matta told ESPN. "Unfortunately, I just don't feel that I am completely ready at this point to give (Georgia athletics director) Greg McGarity and the University of Georgia what they deserve. It's truly a special place and he is a tremendous leader I would have loved to work for."
Matta, 50, took this past season off after being fired by Ohio State in June. He spent 13 seasons with the Buckeyes and took the program to the national title game in 2007, the Final Four in 2012 and the Elite Eight in 2013.