NBA News: Phil Jackson Finalizing Deal To Become Knicks President

UPDATE (1:50 PM): The New York Knicks have scheduled a press conference for next Tuesday to announce Phil Jackson as their new President of Basketball Operations, according to Yahoo! Sports’ Adrian Wojnarowski:

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It has been in the works for a while, but now it is finally becoming official. ESPN’s Ramona Shelburne is reporting that the New York Knicks are finalizing a deal with Phil Jackson to become the team’s President of Basketball Operations:

This will definitely come as a blow to many people who were hoping Jackson would return to the Lakers in some capacity. Many were even reporting that he was using the Knicks talks as leverage with the Lakers for a job in the organization.

Jackson will have full control over all basketball decisions with the Knicks, though owner James Dolan will undoubtedly continue play a large part.

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Jackson spent 10 years with the Knicks as a player, averaging seven points and four rebounds, and winning championships in 1970 and 1973.

Now the question becomes what do the Lakers do in regards to next season. Kobe Bryant recently called out Jim and Jeanie Buss to get the organization back on track, and wants no part of another rebuilding campaign.

Many believed that bringing Jackson in on the front office side would help the Lakers return to glory, but that is eventually no longer a possibility.

Whatever the case, Jackson has a tall task in front of him as the Knicks have no cap flexibility, and lack a first round draft pick in this year’s draft.
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