The New York Knicks have announced an 11 a.m. press conference Tuesday for a "major announcement," expected to be Phil Jackson officially becoming the franchise's top executive. It has been previously reported that Jackson had verbally agreed to join the organization, and Knicks star Carmelo Anthony has also disclosed he "heard" Jackson was "coming aboard."
The terms and arrangement between both sides have not been announced, though reports indicate Jackson is expected to live in New York during the regular season and be the team's president, with a general manager running the day-to-day operations and reporting to him. The team is also expected to pay him an annual salary near $15 million. Jackson's verbal agreement with the franchise was in place last Saturday, but the details of the deal that will bring the hall of famer and former Knick back to the NBA are still being finalized.
Current Knicks general manager Steve Mills may remain with the team in a "revised" role under Jackson.
The Knicks' press release did not include Jackson's name, but all signs indicate that Tuesday will conclude any speculation surrounding the return of the "Zen Master," who has been out of the league since retiring as Lakers coach following the 2010-11 season. Jackson thought he had an agreement to return as Lakers coach last season, but the franchise hired Mike D'Antoni instead.