Phil Jackson is signed on to become president of the New York Knicks, according to a report on Saturday by ESPN.
The reported deal is expected to pay Jackson $12 million per year but does not include a stake in ownership.
The team announced that a "major announcement" is scheduled for 11 a.m. ET Tuesday at Madison Square Garden.
The ESPN report said Jackson will be in charge of the Knicks' basketball operations. However, general manager Steve Mills will reportedly continue to have a significant role in the team's front office.
Jackson is expected to split time between New York and Los Angeles while running the team. He won a record 11 NBA championships as coach of the Chicago Bulls and Los Angeles Lakers in the 1990s and 2000s.
While the Lakers had significant interest in bringing Jackson back in some capacity, formal talks never materialized. Reportedly, the Lakers did not contact Jackson's representatives and the team was not prepared to offer him a role similar to the one the Knicks are giving him.
One of Jackson's biggest challenges will be making a decision on pending free agent Carmelo Anthony. The star forward plans to opt out of the final year of his contract this summer. However, Anthony said he would like to meet with Jackson to talk about the team's future plans before deciding whether to stay or leave.
Jackson is also likely to hire a new coach. It has been widely speculated that Mike Woodson will be dismissed at the end of the season. Steve Kerr, Brian Shaw and Kurt Rambis are considered possible candidates.
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The Brooklyn Nets officially signed center Jason Collins for the rest of the season.
Collins became the NBA's first openly gay player when he joined Brooklyn last month.
Collins' second 10-day contract with the team expired Friday. Players are allowed to sign two 10-day contracts but then must be signed for the remainder of the season if a team wishes to keep them on the roster.
Through eight games with Brooklyn, Collins is averaging 0.6 points, 0.8 rebounds and 9.8 minutes. His high point total was three in the Nets' 112-89 win over the Nuggets in Denver on Feb. 27. The team reportedly is impressed by the defense he is playing.
Collins, a 13-year NBA veteran, played for the then-New Jersey Nets from 2001-08. He also spent time with the Memphis Grizzlies, Minnesota Timberwolves, Atlanta Hawks, Boston Celtics and Washington Wizards.
Collins gained celebrity status after joining the Nets. His jersey immediately became the NBA's best-seller, and the league vowed to donate proceeds from Collins jerseys to the Gay, Lesbian & Straight Education Network and the Matthew Shepard Foundation. Shepard was a gay college student who was murdered in a 1998 hate crime. Collins wears No. 98 in his memory.
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The Dallas Mavericks recalled rookie guard Shane Larkin from the Texas Legends of the NBA Development League.
Dallas also reassigned point guard Gal Mekel to the Legends.
Larkin had 22 points and 11 assists in Friday's win against the Maine Red Claws. In four games with the Legends this season, he has averaged 15.3 points, 8.3 assists, and 4.8 rebounds in 35.8 minutes. He has played in 42 games for the Mavericks, averaging 2.9 points and 1.6 assists in 11.1 minutes.
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The Philadelphia 76ers assigned forward Arnett Moultrie to the Delaware 87ers of the NBA Development League.
This marks Moultrie's second assignment to the Sevens. He appeared in three games during a stretch from Feb. 4-9.
Moultrie has averaged 3.0 points and 2.9 rebounds in 12 games for the Sixers this season. (Editing by Gene Cherry)