Mike Krzyzewski has decided to remain as head coach of USA Basketball through the 2016 Olympics in Rio, according to a source.

A formal announcement is expected by the end of the week.

Krzyzewski has a 62-1 record with USA Basketball.

Jerry Colangelo has stayed confident since the end of the 2012 Olympics that he could persuade Krzyzewski to return. 

Mike Krzyzewski is now giving serious consideration to remaining as head coach of USA Basketball through the 2016 Olympics in Rio.

"There's a chance," Krzyzewski said. "That's correct."

Krzyzewski had said for eight months that he's not returning to his position with USA Basketball, but a final decision has yet to be reached.

Jerry Colangelo said Saturday he and Krzyzewski have been discussing his return "in installments."

"I think it's very close to being resolved," Colangelo said. "That's all I can say for sure."

Krzyzewski has a 62-1 since 2005, a run that includes gold medal Olympic victories in Beijing in 2008 and London in 2012.