Sources: Knicks Officially Sign Jackson To Five-Year Deal

Basketball HOFer Phil Jackson on Friday signed on to become President of Basketball Operations of the Knicks. His deal "is for five years and is expected to pay him" $12M annually but "does not include an ownership stake," according to sources. Jackson "will take over the running of the Knicks' basketball operations department" from team President & GM Steve Mills. A formal announcement is slated for Tuesday at 11:00am ET at MSG (ESPN.com, 3/14). N.Y. tabloids went with the headlines “New Jax City” in the N.Y. POST and  “Got Their Phil” in the N.Y. DAILY NEWS. It was also on the front-page of the N.Y. TIMES under the header, "Knicks Turn To Jackson To Resuscitate The Team" (N.Y. TIMES, 3/15).