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Knicks and Brown reach settlement

It wasn`t long ago, in July 2005, when Hall of fame coach Larry Brown arrived in New York and signed a five year deal worth about $50 million. The Knicks President Isiah Thomas introduced Brown to Madison Square Garden and the parties involved expressed their satisfaction over the signed agreement. Brown was happy to return to his home city, and the Knicks expected the coach to lead them into the playoffs.

With only 23 wins in Brown`s first year in New York, the relationship was tested in the media and by those involved with the Knicks operation. Brown was released in June, and the remainder of his contract ? about $40 million ? were withheld by MSG chairman James Dolan, claiming the coach violated terms of his contract.

On Monday, a week before NBA Commissioner was expected to rule on the dispute, the two sides reached a settlement on the remainder of the fired coach`s contract. Terms of the settlement were not disclosed and both sides` comments did not reveal much. The Knicks opened their season on Wednesday at Memphis, with Isiah Thomas as coach.