Georgia will not accept a bid, if offered, to play in the NIT after firing coach Mark Fox.
Fox said Sunday at a news conference that "players have elected that they will not participate in that." Georgia spokesman Mike Mobley confirmed the school would honor the players' vote.
Fox was fired Saturday, ending the coach's nine-year stay.
Possible candidates to replace him include former Ohio State coach Thad Matta and former Indiana and Marquette coach Tom Crean. A source close to the discussions told ESPN's Jeff Goodman that Matta is scheduled to meet with Georgia officials Monday.
Matta, 50, was fired by Ohio State in June after 13 seasons with the Buckeyes. He took the school to the national title game in 2007, the Final Four in 2012 and the Elite Eight in 2013.
Sources close to Matta have said he is in better physical shape, feels rejuvenated after dealing with back and foot issues and is interested in returning to coaching.
Matta met with Ole Miss officials March 2 in Oxford, Mississippi, multiple sources told Goodman. Ole Miss fired Andy Kennedy after 12 seasons at the school.
Georgia (18-15) lost to Kentucky in an SEC tournament quarterfinal, ending the Bulldogs' hopes of landing a spot in the NCAA tournament.
The Bulldogs earned two NCAA tournament bids during Fox's tenure, losing in the first round in 2011 and 2015. Fox was 163-133 at Georgia.
The Associated Press contributed to this report.