Jordan, a star on Rutgers' 1976 Final Four squad, informed athletic director Tim Pernetti of his decision Tuesday, according to a source.
While Jordan was not considered a front-runner, he was always a person on Pernetti's radar because of his affiliation with Rutgers, and a resume that includes head coaching stops at three NBA franchises.
Upon being fired from the Philadelphia 76ers last week, Jordan was immediately mentioned as a possible successor to Fred Hill, who resigned under pressure eight days ago. But sources said Jordan told Pernetti he wanted to concentrate his efforts on the NBA, and was not ready for a return to the college game, where Jordan's coaching career began.
Calls to Jordan's home were not returned.
With Jordan off the board, Pernetti may know focus his attention on several other candidates. Among those with interest are former St. John's coach and current ESPN analyst Fran Fraschilla and Robert Morris coach Mike Rice.
Fraschilla told a source he was "laying low" in the process, and did not return a phone message left for him.
Rice, a former Pittsburgh assistant, has used back channels to express his interest in the position, but sources consider him a backup plan. Also on Rutgers' radar is Temple coach Fran Dunphy.