In addition, the Bucks will fire Larry Drew while Kidd's former team, the Brooklyn Nets, is seriously considering former Memphis Grizzlies head coach Lionel Hollins, per Yahoo! Sports' Adrian Wojnarowski:
"After reaching a deal to let Jason Kidd coach the Milwaukee Bucks, the Brooklyn Nets have set up a meeting with their top candidate, Lionel Hollins, league sources told Yahoo Sports.
"Hollins has emerged as the Nets focus in what could turn out to be a brief coaching search, sources said. He will meet with Nets officials in New York within the next 24-48 hours, sources said.
"Hollins had been a strong consideration for the Nets when Kidd had gotten off to a sluggish start to the season and there was discussion about replacing Kidd in late December, sources said.
"Hollins brings a strong playoff, disciplinary and defensive track record from his five years as the Memphis Grizzlies coach. Hollins has interviewed for the Los Angeles Lakers coaching vacancy and is still considered a finalist with leader Byron Scott, sources said.
"Kidd is working to bring two Nets assistants, Eric Hughes and Sean Sweeney, to Milwaukee with him, sources said.
"Milwaukee reached an agreement to send 2015 and 2019 second-round picks to Brooklyn to allow Kidd out of the final two years of his contract and become the Bucks' coach.
"The Bucks will fire coach Larry Drew, who had been on the job for one season. New Bucks ownership had communicated nothing to Drew the past several days of negotiations with Kidd and the Nets, sources said.
"Kidd lost a power play in Brooklyn, where he had tried to usurp the power of GM Billy King through ownership, sources said. Kidd had gone to ownership seeking the president of basketball operations title and was denied. It led to Brooklyn allowing him permission to talk with the Bucks, whose new co-owner, Marc Lasry, has been a longtime financial adviser.
"Around the NBA, there's a strong belief that Kidd will ascend sooner rather than later to run the Bucks' basketball operations. Milwaukee currently has general manager, John Hammond, in place."
While the Bucks have made no official announcement regarding Kidd's hire, they did issue a press release on Drew's dismissal on their official website on June 30:
"The Bucks have relieved Head Coach Larry Drew of his duties, the team announced today.
"Milwaukee Bucks General Manager John Hammond stated,'Despite the challenging season, Larry always handled himself and represented the Bucks in a first-class manner. Larry did the best he could in a difficult situation, especially given all of our injuries. I want to thank Larry for all of his efforts, and we wish him the best of luck in his future endeavors.'
"Drew was named the 13th head coach in Bucks history on June 3, 2013."
According to The Milwaukee Journal Sentinel's Charles F. Gardner, Kidd will receive a three-year deal worth between $12 and $15 million:
"The Bucks and Brooklyn Nets reached a deal Monday to allow Jason Kidd to become Milwaukee's head coach.
"A league source indicated Kidd will sign a three-year deal worth from $12 million to $15 million to lead the Bucks. Final details were being worked out Monday afternoon.
"The Bucks and Nets agreed to compensation with Milwaukee sending two second-round picks to Brooklyn, one in 2015 and one in 2018 or 2019, the source said.
"Kidd wil replace Larry Drew, who coached just one season with the Bucks. Drew went 15-67 in his only season in Milwaukee. He had two years remaining on the deal he signed last summer, a three-year contract worth approximately $7.5 million."
Gardner says Kidd was not happy about rookie head coaches getting lucrative offers from other ballclubs. New Golden State Warriors head coach Steve Kerr and new New York Knicks mentor Derek Fisher eached received five-year deals worth more than $20 million. Kidd was given a four-year, $10.5 million deal with the Nets.
Kidd averaged 12.6 points, 6.3 rebounds and 8.7 assists in his 19-year NBA career, per ESPN stats.