8:45pm: Negotiations between the two sides will “pick up” tomorrow, sources tell Ian Begley of ESPNNewYork.com (via Twitter).
5:46pm: Steve Kerr is close to finalizing a deal to become the head coach of the Knicks, a source tells Frank Isola of the New York Daily News. The two sides are still negotiating contract details, but the source tells Isola that the two parties expect to have a deal in place by early this week so that Kerr can accompany Phil Jackson to the draft combine in Chicago.
The Knicks have been considered the front-runners to land Kerr for weeks now. Golden State was dubbed as the only realistic competition for the future first-time coach’s services, but the Jazz and Lakers were said to have interest in him as well. Kerr will get the chance to learn the ropes of coaching under Jackson, who he played for in Chicago.
Isola doesn’t provide any insight as to what the terms of the deal might consist of, but Kerr was reportedly seeking a pact in the neighborhood of five years and $30MM. The deal will need to be completed by Thursday in order for Kerr to accompany Jackson to the draft combine as planned.