FOX13 News has confirmed that University of Memphis Athletic Director Tom Bowen has had talks with University of Tennessee AD Dave Hart about extending the series in men's basketball, as well as other sports.

MORE: Have we seen last of Tigers-Vols series?

The deal between the two schools is closed to being finalized.

Men's basketball coach Josh Pastner said Wednesday in preparation before Fridays' non-conference game against the Volunteers in Knoxville, the Tigers-Vols eight-game series is complete and won't be renewed.

Tennessee has made no secret of their desire to continue playing the series and if it is renewed how much will it affect football? The Tigers and Vols are not scheduled to play one another on the gridiron until 2017.