Editor's note: This story has been updated from its original version.

Jamie Dixon had one homecoming when he returned to TCU as its men's basketball coach three years ago.

Now Dixon may be looking at another one, going to UCLA after growing up in Southern California.

The Los Angeles Times reported that Dixon is on the verge of leaving TCU for UCLA, taking over one of the most storied programs in college basketball history.

But Dixon's $8 million contract buyout stands as a stumbling block, with the Times reporting that UCLA is trying to negotiate the figure down to perhaps as little as $1 million.

Latest I've heard on Jamie Dixon: He's trying to negotiate his $8-million buyout down to $1 million. Barring that, UCLA will have to come up with the money. Have also been told that Mick Cronin is getting antsy and the next 24 hours could be critical to keeping him in the mix. — Ben Bolch (@latbbolch) April 3, 2019

On Thursday morning, CBS Sports reported that other candidates were back on the radar for UCLA as a reduced buyout for Dixon had still yet to be reached.

Sources: Jamie Dixon's candidacy for the head coaching vacancy at UCLA is dependent on whether or not his buyout can be reduced. Until that happens, the focus is on other candidates. Dixon is currently recruiting for TCU. — Jon Rothstein (@JonRothstein) April 4, 2019

Dixon and TCU players had the team's end-of-the-year meeting Thursday afternoon, a source confirmed to The Dallas Morning News, but a Fort Worth Star-Telegram report indicated that Dixon did not address the UCLA job during the meeting. The Star-Telegram reported Friday morning that TCU is expecting a decision from Dixon to be resolved by end of the day.

While UCLA's incentive for a reduced buyout is clear, why would TCU do anything to make it easier to hire away Dixon? He's compiled a 68-41 record in three seasons at TCU, including an NCAA tournament berth in 2018 and two NIT appearances, including a championship in 2017. Because of injuries and transfers, TCU was unable to duplicate its NCAA bid this season, falling Tuesday in the NIT semifinals to Texas.

And UCLA had enough financial resources to offer Kentucky coach John Calipari a reported six-year deal worth $45 million before shifting its attention to Dixon.

If Dixon does leave, it would set up the first major hire for Jeremiah Donati, who replaced Chris Del Conte as athletic director in December 2017.