Newly-acquired Milwaukee Bucks coach Jason Kidd will sign a three- or four-year contract, according to multiple reports.
The Bucks fired coach Larry Drew after agreeing to send two second-round draft picks to the Brooklyn Nets for Kidd on Monday.
Drew met with the team's front office Monday morning and was told he was let go. He signed a three-year, $7.5 million deal to coach the Bucks last year but lasted just one season. The Bucks finished 15-67 and had the No. 2 pick in last week's draft.
"Despite the challenging season, Larry always handled himself and represented the Bucks in a first-class manne," Bucks general manager John Hammond said in a statement. "Larry did the best he could in a difficult situation, especially given all of our injuries. I want to thank Larry for all of his efforts, and we wish him the best of luck in his future endeavors."
The Bucks previously offered one second-round pick for Kidd, but the Nets sought a first-round pick in next year's draft.
The Bucks only talked to Kidd about being the coach, not having any player personnel duties.
Bucks general manager John Hammond and assistant general manager David Morway will remain in their positions, and no interviews were conducted for their jobs, according to multiple reports.
It was reported that Hammond was initially not consulted about acquiring Kidd but eventually negotiations were handled by Hammond and Nets general manager Billy King.
Drew reportedly did not talk to ownership during the process to acquire Kidd. Bucks co-owners Marc Lasry and Wes Edens met with Kidd on Friday in New York City after asking for and receiving permission to talk to Kidd a few days before last Thursday's draft.
Kidd, who played 19 seasons in the NBA, starred for the Nets. He became acquainted with Lasry when the team played in New Jersey. Lasry invested in the Nets before teaming with Edens to buy the Bucks from Herb Kohl earlier this year.
Kidd got off to a slow start in his first year as coach in Brooklyn and nearly was fired in December. However, the team rebounded to finish the regular season at 44-38 and reached the second round of the Eastern Conference playoffs before losing to the Miami Heat.
The Bucks finished with the worst record in the NBA but fell to No. 2 in the draft lottery and selected Duke forward Jabari Parker on Thursday.
Kidd had asked the Nets to let him be involved in overseeing basketball operations. Ownership shot him down based on his lack of experience in the front office and gave him the green light to talk with other NBA teams.
Kidd was also not happy about seeing other coaches with no previous experience being given bigger contracts than his. Former NBA players Steve Kerr and Derek Fisher each received five-year deals worth $25 million to coach the Golden State Warriors and New York Knicks, respectively. Kidd completed the first of a four-year deal worth $10.5 million.
Lionel Hollins, George Karl and Mark Jackson are reported candidates to replace Kidd in Brooklyn.