(SportsNetwork.com) - The Detroit Pistons have reportedly reached an agreement to hire Stan Van Gundy as head coach and president of basketball operations.
ESPN.com reported on Tuesday the sides have a verbal agreement on a five-year deal worth an estimated $35 million.
Van Gundy most recently coached the Orlando Magic from 2007-12 and he coached the Miami Heat for two-plus seasons before that.
He was fired by the Magic after the 2011-12 season despite leading the Magic to five straight playoff appearances. He has a 371-208 record as an NBA coach.
Van Gundy would take over for interim coach John Loyer, who coached the last 32 games of the season after Maurice Cheeks was fired in February.
Pistons president Joe Dumars resigned last month after a 29-53 season. Detroit hasn't made the playoffs since 2009.