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Knicks Officially Introduce Phil Jackson

Jim McIsaac/Getty Images(NEW YORK) -- After weeks of anticipation, the New York Knicks officially announced that former Chicago Bulls and Los Angeles Lakers head coach Phil Jackson will be joining the team as the president of basketball operations.

ESPN is reporting that Jackson's deal with the Knicks is for five years and will pay him $12 million annually.

"There is only one Phil Jackson, and he is synonymous with winning basketball teams," Knicks owner Jim Dolan said in a statement. "His history of success in the NBA is unrivaled, and he is the ideal executive to lead our team and develop short and long term plans that build a successful franchise and result in an NBA championship. That is our only goal, and what our loyal fans deserve."

The Knicks haven't done much winning in recent years, and the hope is the that Zen Master can work his magic and help rebuild the team into a contender again. 

The last time the Knicks won an NBA Title was back in 1973, when Jackson was a player for the team.

Since the 2000-2001 season, the Knicks have had a winning record just four times.

Copyright 2014 ABC News Radio

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