This is intriging. Puerto Ricans tend to keep coaching of the National team inhouse.  I wonder what the offer is/was.  I hope it turns out for the best for both Pitino and the Puerto Rico national team. 
Official: Puerto Rico, Pitino talk Olympics
CBSSports.com wire reports
Dec. 14, 2010 
SAN JUAN, Puerto Rico -- The president of the Puerto Rican Basketball Federation says the national team is in "very advanced talks" with Louisville's Rick Pitino about coaching the club in pre-Olympic qualifying next summer. 
Federation president Carlos J. Beltran says Tuesday the team is hoping Pitino will be its coach during the pre-Olympic qualifying tournament in Argentina in August. 
Beltran says the process has not been completed but "we are very close. There are just a few details we are completing."