Frank Haith is coming off his third season at Missouri after missing the NCAA tourney. (USATSI)

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Missouri's Frank Haith has reached an agreement in principle to replace Danny Manning as Tulsa's next head coach, a source told CBSSports.com on Thursday.

A formal announcement is expected soon.

CBSSports.com first reported Haith's involvement with Tulsa earlier Thursday.

"Frank is looking for a way out of Missouri," one source said. "This might be it."

Haith just finished his third season at Missouri by missing the NCAA Tournament with a team talented enough to make it, and Mizzou fans have undeniably turned on him because of underachieving on the court and problems off of the court -- most recently the arrest and dismissal of Louisville transfer Zach Price. Sources told CBSSports.com that Tulsa is willing to pay in excess of $1 million for Haith, and that he's seriously considering going because he knows one more bad season at Missouri could be his last.

Manning left Tulsa for Wake Forest earlier this month.