Report: Knicks finalizing deal with Phil Jackson

Phil Jackson won 1,155 games in 20 seasons coaching the Bulls and the Lakers. (Kevork Djansezian/Getty Images)

Phil Jackson is expected to finalize a deal to become president of the New York Knicks on Friday, according to a report from Ramona Shelburne and Chris Broussard of ESPN.com.

The Knicks announced that will have a "press conference to make major announcement," at 11 a.m. Tuesday inside Madison Square Garden.

Jackson's agent, Todd Musburger, is in Los Angeles to finalize the contract with Jackson and Knicks officials.

When hired, Jackson will become the president and general manager of the team, replacing Steve Mills, who is expected to remain part of the organization.

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Jackson's return to New York, where he won two NBA titles as a player for the Knicks, has been rumored since last week, when it was reported that the Knicks brass approached Jackson to gauge his interest in coaching.

Jackson retired from coaching after the Los Angeles Lakers were swept in the Western Conference semifinals by the Dallas Mavericks in 2011.

New  York (26-40) has won five straight games and are 3.5 games behind the Atlanta Hawks for the final Eastern Conference playoff spot.

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