There was an ever brief moment of panic among the maize and blue faithful as Michigan basketball went on its run to its second program national title, as head coach Dusty May started to see his name thrown about as a potential replacement for Hubert Davis at North Carolina. May didn't come out and emphatically refute that he was in the running, putting some fear into the hearts of those who hope he'll remain in Ann Arbor for the long term. He later explained that he's happy with the Wolverines and wasn't going to comment due to a comment having been misconstrued last year, but until he signs a new contract, some fears will persist.

At the national championship celebration, athletic director Warde Manuel shared that he and May have agreed to a new contract, but where does that stand? May shed light on it on Wednesday at his recruiting and transfer portal press conference.

"I haven't signed," May said. "Warde and I agreed to the terms and the structure. And then after that, there's still some eyes to dot and tees to cross. And I think anyone that's ever dealt with attorneys knows that it's not as if you're making a red line change and it's turned back. And same thing with agents and attorneys on the other side.

"So yeah, Warde and I have agreed to terms just like last year. I think we ended up signing it in July. I don't know when this will get signed. I think it's whenever things get turned back. But yeah, we've agreed to the terms. There's no second-guessing or second thoughts. It's my mind, the handshake, it was done on the handshake."

There's clearly no concern given what he had to say. But even still, fans will eagerly await until not only the deal is officially announced, but also when the numbers are revealed -- with many hoping that he'll be so lucratively compensated that he won't have a wandering eye, not only to other top college programs (though that appears to be unlikely) but also to NBA teams that may wish to lure him away.

This article originally appeared on Wolverines Wire: Dusty May's Michigan contract update