(CBS) After weeks of speculation, Derek Fisher is finalizing a deal to become coach of the Knicks, according to multiple reports. Yahoo Sports’ Adrian Wojnarowski reported that it’s a five-year, $25-million deal.

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Fisher just finished his season as a player when the Thunder were eliminated in the Western Conference Finals by the Spurs. After more deliberation and constant recruiting from Knicks president Phil Jackson — whom Fisher played for and learned under during his playing career with the Lakers — Fisher agreed to coach the Knicks on Monday afternoon.

The draw for Jackson was to have a young coach who he help mold but one who also already understood his system and vision.

Fisher became the leading candidate after Steve Kerr spurned the Knicks and accepted a job with the Warriors.