Rose capped his spectacular first season by leading the Tigers to the national championship game, which Memphis lost to Kansas in overtime.
The 6-foot-3 guard from Chicago averaged 20.8 points in six NCAA tournament games and is likely to be taken with one of the top picks in the draft.
"My only regret is not winning a national title for the University of Memphis," Rose said.
Terms of Calipari's deal have not been made final.
Providence -- The school hired Keno Davis as its new coach, less than two weeks after he was honored as the Associated Press Coach of the Year at Drake. Davis won the AP award in his rookie year as a head coach. He took Drake to its first NCAA tournament since 1971 and led the Bulldogs to a 28-5 record.
Texas-El Paso -- Star guard Stefon Jackson, a junior from Philadelphia, was arrested on charges that he hindered an investigation into a Pennsylvania shooting.
Kent State -- Rob Senderoff was hired as an assistant coach after his involvement in a phone-call scandal that led to Kelvin Sampson's resignation at Indiana. Senderoff resigned from Sampson's staff in October.
Butler -- Coach Brad Stevens signed a seven-year contract extension, keeping him with the Bulldogs at least through the 2014-15 season. Stevens led Butler to a 30-4 mark last season.
Et cetera -- Connecticut said sophomore guard Doug Wiggins has asked to be released from his scholarship so he can transfer. ... Forward Anthony Randolph, who announced last week that he was leaving LSU for the NBA draft, signed with an agent, officially ending his college career.