Phil Jackson to become Knicks' president

New York, NY ( - Hall of Fame head coach Phil Jackson has agreed to become the new president of the New York Knicks, multiple reports have confirmed.

The Knicks issued a release Friday night stating that the team has called a press conference for Tuesday regarding a "major announcement."

Speculation surrounding the Knicks and Jackson has been rampant for a few days, with an ESPN report issued Wednesday citing a source close to the negotiations saying only a few details needed to be ironed out.

Jackson retired from coaching in May 2011 after leading the Chicago Bulls and Los Angeles Lakers to a combined 11 NBA titles. He guided the Bulls to six championships and the Lakers to five, the last coming in 2010 with Los Angeles.

At his retirement press conference three years ago, Jackson said his plans didn't include coaching in the NBA in the future. He never said anything about a front office position, a role he has never previously held.

With the Knicks, the 68-year-old would take over for Steve Mills, who was given the position of president and general manager just this past September.

Jackson played for the Knicks from 1967 through 1978 and was an integral part of the team's last NBA title in 1973. He missed the club's title run 1969-70 with a back injury.

The Knicks are in the midst of a disappointing season after reaching the semifinals of the Eastern Conference Playoffs in 2012-13. Though the club is currently riding a five-game win streak, it entered Friday's play 3 1/2 games out of a playoff spot with a 26-40 record.