Terms of the contract were not disclosed Saturday, but the Miami Herald reported that the deal is worth $15 million over five years and includes an ownership interest in the team.
The hiring ends a 2 1/2-month standoff in which the Knicks accused the Heat of illegally contacting Riley before he stepped down as head coach of the Knicks on June 15.
The tampering settlement calls for the Knicks to receive $1 million and a 1996 or 1997 first-round draft choice previously acquired by Miami from the Atlanta Hawks.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.