Phil Jackson reportedly will earn around $12 million per year with KnicksPosted by Inside Hoops
Here’s the New York Post reporting on the Knicks and Phil Jackson:
The Knicks have announced a Tuesday morning press conference at the Garden during which they will announce the hiring of Phil Jackson as team president, bringing his Hall of Fame career full circle as he looks to win his third championship ring as a Knick.
Jackson’s Chicago-based agent, Todd Musburger, and Knicks officials, including James Dolan lieutenant Barry Watkins, were in Los Angeles with the former Lakers coach to sign the contracts Friday, according to a source. A source confirmed an ESPN.com report Jackson will be paid approximately $12 million per year. The report also said the deal’s length is five years, which would make it worth about $60 million.
“But he’s not doing it for the money,’’ one Jackson confidant said.
During Jackson’s coaching negotiations with the Lakers last season that fell apart, he asked for $12 million a year. He made $12 million in his second-to-last season coaching the Lakers in 2009-10, but took a “pay cut’’ to $10 million in 2010-11, his final season.