AC

Phil Jackson on Friday is expected to finalize an agreement to become president of the  New York Knicks, sources have told ESPN. Todd Musburger, Jackson's Chicago-based agent, is in Los Angeles to finalize the contract with Jackson and Knicks officials, according to sources. Jackson's contract is expected to pay him $12 million a year, sources said. The Knicks released a statement Friday afternoon saying a "major announcement" would be made Tuesday at 11 a.m. ET at Madison Square Garden. ESPN reported earlier this week that the Knicks were expecting to complete a deal with Jackson by week's end. Jackson, who has won record 11 NBA championships as coach of the Lakers and Bulls and two as a Knicks player, likely will spend significant time in New York but also retain his time in Los Angeles, sources said. Jackson will take over the running of the Knicks' basketball operations department from president and general manager Steve Mills. A source said earlier this week that...