12:12pm: Bondy hears Van Gundy isn't a high priority candidate for the team, and says it's unlikely the Nets will even meet with him (Twitter links). King, meanwhile, told reporters he'll be giving Jackson a call, tweets Andy Vasquez of the Bergen Record.
11:50am: Nets GM Billy King told reporters, including Stefan Bondy of the New York Daily News, that interim coach P.J. Carlesimo will not return (Twitter link). The team elected to let the coach go after last night's first-round elimination in Game Seven against the Bulls. Ken Berger of CBSSports.com reported within the hour that the team would make its decision on Carlesimo swiftly, and hinted that the Nets would not retain him. The search for a replacement will begin immediately, and sources tell Berger that Jeff Van Gundy will be a primary target (Twitter link).
The Nets aren't setting a timetable for themselves as they begin their search, tweets Joshua Newman of SNY.tv. Carlesimo had been an assistant coach when the team fired head coach Avery Johnson in December. Brooklyn had a record of 14-14 at that point, but under Carlesimo the Nets went 35-19 over the rest of the regular season and grabbed the No. 4 seed in the Eastern Conference.
Van Gundy and Phil Jackson were reportedly among the team's targets to take over in the middle of the season, but with tepid response from its top candidates, the team decided to let Carlesimo coach the rest of the season. The Nets have continued to be linked to Jackson over the past few months.