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Krzyzewski considering a return to Team USA

May 20, 2013, 9:49 AM EDT

Rob Schumacher-USA TODAY Sports Rob Schumacher-USA TODAY Sports

Maybe USA Basketball CEO Jerry Colangelo isn’t satisfied with the list of willing candidates to coach the national team, or maybe Mike Krzyzewski is already getting the itch for another gold medal run, but apparently the two have been discussing the possibility of teaming up again through Rio.

“There’s a chance,” Coach K told Sports Illustrated’s Pete Thamel. “That’s correct.”

Colangelo said a plan including Coach K returning “in installments” is close to being resolved, and that we should all, “Give it another week.”

Krzyzewski took over the team in 2005 after a relatively disastrous Athens Games, where a Team USA that included the likes of LeBron James, Carmelo Anthony, Dwyane Wade, and Tim Duncan barely scraped out a bronze medal after losses to Puerto Rico, Lithuania, and Argentina.

All Krzyzewski has done since taking over for Larry Brown is lead the team to a 62-1 record, a 2010 World Championship, and back-to-back Olympic gold medals in Beijing and London.

Colangelo was thought to have been looking to the NBA for his next coach, with possibilities including Boston’s Doc Rivers, San Antonio’s Gregg Popovich, and former 76ers coach Doug Collins. But Calangelo added that he hasn’t contacted any candidates about the position just yet.

“I would never do that,” the former Suns owner and executive explained. “I’ve said that from the beginning, for what he’s invested in USA Basketball, he’s entitled to make his decision before anyone.”

The team doesn’t have any obligations until 2014 World Cup of Basketball in Spain, but would like to lock down a decision sooner rather than later. So let’s all give it a week and see if it’s resolved.