"Derek Fisher has agreed to a five-year, $25 million deal to become coach of the New York Knicks, league sources told Yahoo! Sports.
"After Knicks president Phil Jackson lost his top coaching candidate, Steve Kerr, to the Golden State Warriors, Fisher became Jackson's primary target and the 18-year NBA veteran will retire to take the job.
"Fisher, 39, had been seeking the same five-year commitment the Knicks had given Jackson to be president, sources told Yahoo! Sports.
"Fisher's deal matches the five-year, $25 million agreement Kerr reached with Golden State, but is less of a commitment than what New York initially offered Kerr to become its coach.
"Fisher's staff is expected to include Bill Cartwright and Kurt Rambis, sources told Yahoo! Sports. All share longtime coaching or playing experience with Jackson, and Fisher plans to run Jackson's famed triangle offense with the Knicks.
"The Knicks' support system, centered on Jackson's mentorship role, is one of the most attractive features of the job to Fisher.
"Fisher played parts of 13 seasons with the Lakers, winning five championships under Jackson."
ESPN New York's Ian Begley also confirmed the agreement between Fisher and the Knicks, citing the financial terms which Wojnarowski first reported.
"The New York Knicks have an agreement in place to become the team's next head coach, according to multiple outlets, including ESPNNewYork.com.
"The two sides are in the process of finalizing a five-year, $25 million deal, according to Yahoo! Sports.
"The Knicks have scheduled a news conference at 11:30 a.m. ET Tuesday to 'make a major announcement.' After the news conference, Jackson will fly overseas Tuesday night for his son's wedding, while Fisher is expected to attend Game 4 of the Stanley Cup Finals at Madison Square Garden Wednesday night.
"Fisher, who earned $4.73 million combined over the last three seasons and made $5 million just four times in his 18 seasons as a player, spent the past week deciding on his future after the Oklahoma City Thunder were knocked out of the playoffs.
"The Los Angeles Lakers at one point had interest in hiring Fisher for their coaching vacancy. Fisher was also mulling a return to the court or a transition to the front office, but ultimately decided to join Knicks president Phil Jackson in New York.
"Fisher's relationship with Jackson is believed to be one of the factors that led him to choosing the Knicks. Fisher won five titles while playing for Jackson in Los Angeles. A source close to Jackson said he was 'ecstatic' about landing Fisher.
"The two have remained close since Fisher's playing days. Fisher and Jackson spoke briefly over the phone last week."
The New York Times' Frank Cacciola also wrote about the development, citing his own league source.
"For two decades, Derek Fisher held his own as a little man in a big man's game, winning five N.B.A. championship rings with the Los Angeles Lakers and even this season, at the age of 39, playing a useful role for one of the league's top teams, the Oklahoma City Thunder.
"In addition, Fisher displayed considerable resolve in leading the players union as its president during the contentious showdown with the league that delayed the start of the 2011-12 season.
"Now Fisher will take on another challenge -- coaching the New York Knicks. A person briefed on the discussions between the Knicks and Fisher said an agreement had been reached for him to become the coach and the Knicks themselves announced there would be 'a major announcement' at a Tuesday press conference at the team's training facility in Greenburgh, N.Y."
Fisher concludes his NBA playing career with averages of 8.3 points, 2.1 rebounds and 3.0 assists in stints with the Lakers, Warriors, Utah Jazz, Oklahoma City Thunder and Dallas Mavericks, per ESPN stats.
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