The Knicks are adding another person to their payroll. Phil Jackson, 68, has been officially hired by the Knicks to be the team president multiple reports say.

A news conference is scheduled for 8 a.m. PDT Tuesday at Madison Square Garden for what has been described as a “major announcement” according to the L.A. Times. As previously reported Jackson has been “seriously considering” the offer this past week and it appears he has taken it. It is expected that Jackson will be paid $12 million a year and be in charge of the basketball operations department with the help of Steve Mills, the current team’s general manager.

Jackson left the Los Angeles Lakers after the 2010-11 season. Winning 11 titles as a coach of the Lakers and Chicago Bulls, this will be the first time Jackson has worked in the office. Jackson additionally won a title with the Knicks in 1973.

For the past few years, Jackson has worked as a informal consultant with the Detroit Pistons.

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