According to Frank Isola of the New York Daily News, the New York Knicks and Mike Woodson have finalized a multi-year contract that will keep the coach in the Big Apple.
Isola reported via Twitter:
Knicks and Mike Woodson have finalized a deal to remain head coach, a person close to Woodson tells the Daily News.
— Frank Isola (@FisolaNYDN) May 25, 2012
The Knicks have confirmed the deal in a press release.
Terms were not immediately disclosed, but according to Marc Berman of the New York Post, the deal is for three years and could exceed $10 million.
Woodson had success after taking over for Mike D’Antoni, finishing the regular season with a 18-6 record.
Although the Knicks went only 1-4 in the postseason and were knocked out of the first round by the Miami Heat, Woodson had the backing of superstars Amar’e Stoudemire and Carmelo Anthony.
Now the the coaching dilemma is solved, general manager Glen Grunwald’s next item of business is to deal with the slew of unrestricted free agents, which include point guard Jeremy Lin and forward Steve Novak.