Paul Silas may be slated to coach the Cavaliers next year

Paul Silas will be the new coach of the Cleveland Cavaliers after reaching agreement with the team on a long-term contract, AP learned Sunday.

The deal was being finalized Sunday, according to two sources with knowledge of the talks who spoke to AP on the condition of anonymity.

Silas out former New York Knicks coach Jeff Van Gundy, who had several discussions with Cavaliers owner Gordon Gund and general manager Jim Paxson about the possibility of becoming LeBron James' first pro coach. The Cavaliers have the No.1 pick in the upcoming draft and have said they will select James, the 18-year-old high school phenom from Akron.

"They decided, and they got a great guy. I'm fine with it," Van Gundy said.

Silas let go by the New Orleans Hornets at the conclusion of the regular season following his fifth season with the team. He was a candidate for several other coaching vacancies around the league.

Silas not immediately be reached for comment. Cavaliers spokesman Tad Carper said the team would hold a news conference today at Gund Arena for "a major announcement."

Silas 60 in July and has said he would welcome the chance to coach James.