Timing of announcement not a distraction for team Caught in the Web: As usual, Walsh was right Press conference: Transcript | Video

Amid widespread media speculation he was headed for New York, Walsh, announced last Monday he would bring an end to his 24 years with the Pacers organization.

Bird

"The Indiana Pacers offer Donnie Walsh congratulations and wish him good luck in his new position," said Larry Bird, Pacers president of basketball operations, in a statement released by the franchise. "The Knicks have a good man whose dedication to his job is unmatched. I have learned a great deal from Donnie and he’s not only a role model but a great friend. Given time, there’s no doubt in my mind Donnie will bring success to the Knicks much like he did with the Pacers. On behalf of the entire Pacers organization, we wish him the best of luck.”

Walsh, who held the dual titles of CEO and President with Pacers Sports & Entertainment since 2003, will be responsible solely for basketball operations with the Knicks. He will report directly to James L. Dolan, Madison Square Garden president.

"I consider it a privilege to be working with one of the charter teams in the NBA, and to come back to the city I call home," said Walsh, a native of the Bronx, in a statement released by the Knicks. "New York is a very special place for me and it is an honor to be joining this franchise. Knicks fans are among the most loyal and knowledgeable group anywhere in the league, and we will be dedicated to giving all New Yorkers a winning team."

Walsh

Walsh headed up the Pacers' basketball operations for 22 years, guiding the franchise to 17 playoff berths, six trips to the Eastern Conference Finals, four Central Division titles and one berth in the NBA Finals.

"Donnie Walsh is one of the most respected and admired executives in the NBA, and we are happy to announce that he has agreed to become the Knicks’ new president," Dolan said in a statement released by the Knicks. "In this role, Donnie will have complete control over all basketball operations, and I am confident that he is the right person to reestablish the Knicks as one of the League's elite teams."

Walsh joined the Pacers as an assistant coach in 1984 and was promoted to general manager in 1986.