Monty Williams Will Coach the New Orleans Hornets

ESPN's Marc Stein tweets...

ESPN.com coaching latest: Blazers assistant Monty Williams will be next coach of Hornets after talks break off with Celtics' Tom Thibodeau

Yahoo!'s Adrian Wojnarowski tweets...

The Hornets and Monty Williams have agreed to the framework of a three-year contract to become the team's head coach, a source tells Y!

The Hornets abandoned their courtship of Thibodeau on Friday afternoon, and GM Jeff Bower quickly offered the job to Portland's assistant.

A source briefed on deal says Hornets will hold option on third year of the contract. Final details are expected to be done Saturday.

To be correct: The Hornets coaching agreement with Monty Williams is three guaranteed years, with a team option for fourth, source says.

Here's a link to Wojnarowski's full piece.

John Reid of the New Orleans Times-Picayune tweets...

Hornets rescind offer to Tom Thibodeau and opens negotations with Portland Trail Blazers Monty Williams, sources said.

Celtics asst. Tom Thibodeau told Hornets he wants to pursue other offers.Finally the Hornets have their coach - Monty Williams.    

Update (7:47PM)

Ken Berger of CBS Sports writes...

Bower and Williams' agent, Steve Kauffman, are said to be in the preliminary stages of negotiations, with financial terms and certain key contractual details yet to be broached. But close friends of Williams, 38, who played for five teams during a nine-year NBA playing career and became Nate McMillan's most trusted assistant in Portland, say he is excited about the opportunity. No serious hangups are expected in the negotiations.

Thibodeau, who has a full plate with the Celtics down 1-0 in the Finals with Game 2 on Sunday, has now emerged as the leading candidate for the Bulls' job. After Thibodeau allowed a Thursday deadline to accept the Hornets' offer lapse -- a deadline that Bower has told friends he did not impose -- the Hornets conducted a lenghty second interview by phone on Thursday with Williams. The Blazers assistant performed well in the interview process, impressing Hornets officials with his preparation and enthusiasm for the job.    

Update (7:55PM): Jason Quick tweets...

monty williams says he is "in negotiations" with hornets

Update (8:07PM): Brian T. Smith tweets...

Williams has been offered a multi-year deal by Hornets. However, deal is not finalized. Still working on numbers. If Williams signs with Hornets, expect the deal to be done by Tuesday at the latest. Williams was favored by several within Hornets organization. Thibodeau's slowness also played in Williams' favor.

Update (8:43pm): Here's a link to Brian T. Smith's column.

The deal is not finalized and numbers are still being worked out. But Williams' impending move to New Orleans is all but final.

"I would expect it to be done early next week," said Williams' agent, Steve Kauffman.

I'm elated to find out that Jeff Bower is a Blazersedge reader Williams is getting the chance he deserves.

In case you missed it, a few weeks ago At The Hive wrote a long "The Case for Monty Williams" post, which included some of my thoughts.  Give it a read if you'd like.

-- Ben Golliver | benjamin.golliver@gmail.com | Twitter