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Arizona’s basketball coaching succession plan is officially in place.

UA athletic director Jim Livengood announced this morning that interim head coach Kevin O’Neill would take over the program if head coach Lute Olson does not return for next season.

Livengood has said he would consider formalizing the long-expected plan since Olson extended his leave of absence for the rest of the season on Dec. 6.

“The intent of this is to really give us a plan,” Livengood said today. “Our plan is for Lute to come back next year, but if in fact, he chooses not to, this is that plan. … It’s going to help recruiting big time, and what it’s meant to do more than anything else, is for our current team, so that there is some perceived structure in place.”

Livengood said the rest of the details are still in the works, including whether O’Neill’s $375,000 contract for this season might be adjusted. He also said the plan specifically covers next season, but not necessarily any future ones should Olson return in 2008-09 but retire after that.

However, O’Neill said he remains committed to Arizona for the long term, and would “absolutely” be interested in taking over for Olson even after next season.

“I’m planning on being at Arizona for a long time,” O’Neill said. “I’ve gone to a lot of great places and been in a lot of great jobs. Been in some bad jobs. But being back at Arizona is almost like coming home.”

O’Neill declined to give specifics about his conversations with Olson regarding the transition, but said he was very appreciative of the support both Olson and Livengood have offered.

“I’m honored,” O’Neill said. “I appreciate Jim Livengood’s confidence in me and I appreciate Lute’s confidence in me. I want to make it clear that Lute is planning on coming back. It’s still his team until he decides to retire.”

Olson, 73, is the oldest coach in Division I basketball. He announced an unexplained leave of absence on Nov. 4 and extended it for the rest of the season on Dec. 6.

In his absence, O’Neill has served as the Wildcats’ interim head coach for two exhibition and nine regular-season games. UA has won its last five games under him, rising to a No. 19 national ranking with a 7-2 record entering Wednesday's game at UNLV.

While Livengood said in a statement later this morning that UA’s appreciation of Olson has been “boundless” he also has stated repeatedly how impressed he is with what O’Neill has done.

Although O’Neill is currently not being compensated for carrying out the head coach’s peripheral duties, such as radio and television shows, Livengood said that may be adjusted soon pending approval in the proper channels. Olson is also contracted to earn this season's performance and academic incentives.

“The immediate concern is making sure everything’s OK right now,” Livengood said. “When those (contract restructurings) are done, they’ll need presidential approval, regent approval and so on. The hard thing is that we already have a head coach under contract.”

After saying he would consider making O’Neill the formal successor earlier this month, Livengood began going through the process. He said he had planned to make the announcement later this week but put the release out today in order to quell increased speculation.

“Nothing had changed, quite honestly,” Livengood said. “We probably would have released it tomorrow maybe. We were going to do it this week.”