A holesaw mandrel assembly has a mandrel body with a first end to be coupled with a drill motor and a second end extending from the body. The second end receives a holesaw. The first member is positioned on the second end. The first member is axially movable on the second end. A friction surface is on the first member. The friction surface is adapted to contact a base surface of the holesaw such that upon contact with the friction surface, the holesaw is fixed in position. The friction surface moves between a first contact position and a second release position. A mechanism on the first member moves the friction surface between the first and second position.