Updated

Putting an end to weeks of speculation, the Los Angeles Clippers officially announced that Glenn "Doc" Rivers has joined the franchise as its new senior vice president of basketball operations and head coach.

The deal was finalized Tuesday, as the Celtics agreed to release him in exchange for a first-round pick in the 2015 draft. No financial terms of the new contract were disclosed, but a Yahoo! Sports report on Sunday stated Rivers has agreed to a three-year, $21 million contract with the Clippers, pending NBA approval.

Rivers will be formally introduced at a Wednesday afternoon press conference as the 16th head coach since the franchise relocated from San Diego following the 1983-84 season.

A former standout for the Atlanta Hawks -- who played for the Clippers during the 1991-92 campaign -- during his playing days, Rivers takes the helm for Vinny Del Negro, who was not offered a new contract after three seasons.

The 51-year-old had served as Boston's head coach since 2004 and guided the storied franchise to six division crowns, a pair of Eastern Conference championships and the 2008 NBA title along with a 416-305 overall record and 59-47 postseason mark.

He will be the fourth Clippers bench boss to have won the NBA's coach of the year award, after Gene Shue, Bill Fitch, and Mike Dunleavy.

By bringing in Rivers, the Clippers are hoping to entice star free-agent guard Chris Paul to sign a contract extension.