Phil Jackson’s deal to become president of the New York Knicks was expected to be finalized Friday, according to ESPN.
Jackson’s agent, Todd Musburger, is reportedly working out the details of the contract with the Knicks in Los Angeles. The reported deal is expected to pay Jackson $12 million per year.
Team officials are making plans to schedule a press conference for early next week in New York.
Jackson will be in charge of the Knicks’ basketball operations. However, general manager Steve Mills will reportedly continue to have a significant role in the team’s front office.
Jackson is expected to split time between New York and Los Angeles while running the team. He won a record 11 NBA championships as coach of the Chicago Bulls and Los Angeles Lakers in the 1990s and 2000s.
The Knicks have won five straight games but are 26-40 and 3 1/2 games behind the Atlanta Hawks for the eighth and final spot in the Eastern Conference playoff race.