Phil Jackson and the New York Knicks are discussing a deal for him to run their front office and ESPN's Chris Broussard reports a deal could be finalized by the end of the week.
Jackson has never previously run a front office, but was linked to the ownership group that attempted to purchase the Sacramento Kings last season.
"Everything is pretty much done," the source said. "There are just some little things here and there that need to be worked out, but the Knicks are very confident that this is essentially done."
Jackson would take over the Knicks' basketball operations department from current president and general manager Steve Mills.
There has been speculation that Jackson is using his negotiations with the Knicks to get a top job with another club, particularly the Lakers, but sources say the Knicks have no concerns over that type of scenario.
Multiple reports have linked Steve Kerr to the head coaching job of the Knicks if Jackson is hired.