Phil Jackson new Knicks president

— -- NEW YORK -- On his first day on the job, Knicks president Phil Jackson said he looks forward to delivering a winner to New York.

"There's no better place to win than New York City," said Jackson, who was officially announced as the team's president at a news conference Tuesday at Madison Square Garden.

"I can think of no better opportunity than the opportunities that I've had, three of the biggest cities and basketball franchises [in] Chicago, Los Angeles and now to come back where I started. It's a great feeling."

He confirmed that his contract is for five years. Financial terms weren't released, but sources told ESPN.com last week that he will receive $12 million annually.

Jackson and general manager Steve Mills will report directly to team owner James Dolan, the Knicks said. But Dolan and Jackson both noted Tuesday that Jackson will have autonomy, with Dolan adding that he will cede power to Jackson "willingly and gratefully."

Jackson has won a record 11 NBA titles as a coach and two as a Knicks forward. His 229 postseason wins and 13 NBA Finals appearances are more than the Knicks have in their 68-season history (186 wins, eight Finals berths), according to ESPN Stats & Information.

"I am by no means an expert in basketball," Dolan said. "I'm a fan, but my expertise lies in managing companies and new businesses. So I think I'm a little out of my element when it comes to the team. I've found myself in a position where I've needed to be more a part of the decision-making for a while. It wasn't something necessarily that I wanted to do. But as chairman of the company, I felt obligated to do it.

"I'm happy now that we have the team of Phil and Steve to do that, and my whole job here now is supporting them to win a championship."

Information from ESPN's Ramona Shelburne and ESPNDallas.com's Tim MacMahon was used in this report.