UPDATE, 1:47 p.m. ET -- According to ESPN's Adrian Wojnarowski, the New York Knicks have signed Scott Perry to a five-year deal:
Scott Perry will sign a five-year deal to become the New York Knicks' general manager, league sources told ESPN.
Perry, formerly the Sacramento Kings' vice president of basketball operations, will report to Steve Mills. The Knicks are planning to sign Mills to a new multiyear deal as president, promoting him from GM, league sources said. Phil Jackson was dismissed as president of basketball operations shortly before the free-agency period.
As part of the Perry deal, the Kings and Knicks agreed on a future second-round pick and cash considerations as compensation, sources told ESPN.
Mills will still retain ultimate authority in the front office, but Perry will be given freedom to operate as he chooses, league sources said. He will be the day-to-day voice running the basketball side.
New York was seeking a GM who won't push for an overhaul of the front-office staff, league sources said, as well as an executive who can coexist with Mills.
Statement from new Knicks GM Scott Perry on his Sacramento exit & from Kings exec Vlade Divac pic.twitter.com/xjUF2zU9FE— Sam Amick (@sam_amick) July 14, 2017
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NEW YORK -- A person with knowledge of the details says the New York Knicks have promoted Steve Mills to president and hired Scott Perry as general manager.
Mills takes over the position left vacant by Phil Jackson's departure last month, the person told The Associated Press on Thursday. The person was granted anonymity because no announcement had been made.
Perry was the executive vice president of operations for the Sacramento Kings and previously held front-office roles for other organizations.
Mills returns to the role he held briefly before Jackson was hired in March 2014 and Mills was made his general manager.
Information from The Associated Press was used in this report.