Dec 5, 2013; Brooklyn, NY, USA; Actor and New York Knicks fan Spike Lee cheers during the first quarter against the Brooklyn Nets at Barclays Center. Mandatory Credit: Brad Penner-USA TODAY Sports

NBA Rumors: Phil Jackson could make more than $15M as Knicks president


New York Knicks superfan Spike Lee is likely waking up a very happy man on Wednsday, as news of the team’s biggest hire in years is starting to make it was across the sports landscape. According to Marc Berman from the New York Post, the Knicks have reached an agreement to hire Phil Jackson as the team’s new president of basketball operations which means the Zen Master will be in full control of the Knicks.

According to Frank Isola from the New York Daily News, the move is coming at a steep cost as hiring Jackson away from his retirement digs is going to cost a pretty penny. Isola states that Jackson could make as much as $15 million per season, which would make him the highest paid NBA executive in NBA history.

The source claims that reports of Jackson being offered an annual salary of $12 million are erroneous and that Jackson could be looking at a deal that pays him in excess of $15 million. The person close to Jackson also indicated that the two sides have had preliminary discussions about Jackson possibly owning a minority stake in the team.

All of the news is coming rushing in at this point, as New York is in pure ecstasy over having been able to hire their savior. The exact details and terms of Jackson’s agreement with the Knicks is unknown, but if there’s one thing we can all bet on being in there, it’s s stipulation that the Zen Master is going to be paid handsomely for his time.

Dick's Sporting Goods presents "Hell Week":

Tags: New York Knicks Phil Jackson