As expected, Stan Van Gundy has agreed to a five-year deal with the Pistons to be the team's head coach and president of basketball operations, sources told ESPN's Marc Stein. The deal is reportedly worth $35 million.
An official announcement will be made later this week, Stein reports.
Van Gundy, 54, has a .641 regular-season winning percentage with the Heat (2003-2006) and Magic (2007-12), leading Orlando to the 2009 Finals.
He's never had a losing season as a head coach and is 48-39 (.552) in the playoffs. The Pistons have had six straight losing seasons after six straight trips to the Eastern Conference finals, including winning the NBA title in 2004.
ESPN sources say Pistons & Stan Van Gundy have reached agreement in principle to make SVG their new coach/president of basketball ops
— Marc Stein (@ESPNSteinLine) May 14, 2014
Pistons & SVG reach agreement in principle on five-year deal worth estimated $35 mil and are on course for official announcement this week — Marc Stein (@ESPNSteinLine) May 14, 2014