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Phil Jackson Signs With Knicks As Team President

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  • Phil Jackson Signs With Knicks As Team President

    Phil Jackson's deal with New York Knicks finalized - ESPN New York

    Phil Jackson signed on to become president of the New York Knicks after a lunch meeting with team officials Friday, sources have told ESPN.

    Todd Musburger, Jackson's Chicago-based agent, was in Los Angeles to finalize the contract with Jackson and Knicks officials, according to sources. Jackson's deal is for five years and is expected to pay him $12 million annually but does not include an ownership stake, sources said.

    The Knicks released a statement earlier Friday saying a "major announcement" would be made Tuesday at 11 a.m. ET at Madison Square Garden.

    Jackson, who has won a record 11 NBA championships as coach of the Los Angeles Lakers and Chicago Bulls and two as a Knicks player, probably will spend significant time in New York but also retain some time in Los Angeles, sources said.

    Jackson will take over the running of the Knicks' basketball operations department from president and general manager Steve Mills. A source said earlier this week that Mills will remain an integral part of the organization.

    Jackson's discussion with the Knicks has been ongoing for several months, sources said.

    During that time, the Buss family has had several meetings in which Jackson was discussed, sources said.

    While there was significant interest in bringing him back to the Lakers in some capacity, it never reached a level where Jackson's representatives were formally contacted, as it was clear to all involved the Lakers would not offer a role that encompassed nearly as much power as the Knicks did, sources said.

    As public pressure on the Buss family mounted this week, their position remained unchanged. No contact was made with Jackson's representatives, sources said.

  • #2
    5 years $60 million. And they beat the Pacers tonight too. Geez. LOL!

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