Report: Phil Jackson, Knicks Finalize $12M Agreement

Phil JacksonPhil Jackson was part of the last New York Knicks championship squad in 1973. Now, the franchise hopes he is part of their next one as well.

Jackson’s agent is in Los Angeles to finalize an agreement to make Jackson president of the Knicks, ESPN.com reports. The contract would pay him $12 million a year, according to the report, and would give him control over the organization’s basketball operations.

Jackson, who won two titles with the Knicks as a player in the 1970s and 11 more as a coach with the Chicago Bulls and Los Angeles Lakers, would spend “significant time” in New York but reportedly would still be based in L.A.

The Knicks scheduled a Tuesday press conference at Madison Square Garden to make a “major announcement.”

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