According to Yahoo! Sports' Adrian Wojnarowski, the team is finalizing a three-year deal for Kidd.
Less than an hour later, Howard Beck of the New York Times confirmed the earlier reports.
Kidd won't waste any time starting coaching the Nets, as GM Billy King said Friday that the team's new coach will start his duties in time to coach the team during summer league in Orlando, according to ESPN's Mike Mazzeo.
Billy says Jason Kidd will coach the team's summer league team in Orlando #Nets— Mike Mazzeo (@MazzESPN) June 14, 2013
Kidd spent 19 seasons playing point guard in the NBA, most recently with the New York Knicks. He won a championship in 2011 with the Dallas Mavericks and guided the then-New Jersey Nets to back-to-back NBA Finals appearances in 2002 and 2003.
Although the California native made 10 All-Star appearances and led the league in assists five times during his decorated career, the Nets’ decision to employ him as a head coach so soon after his retirement will certainly prove to be a controversial one.
The 40-year-old has no significant head coaching experience and hasn’t spent any time underneath one in any capacity besides as a player.
However, as a longtime veteran in the league with a championship pedigree, J-Kidd has seen which coaching methods work and which don't. This is due to his time spent with a number of smart—and even some awful—coaches.
San Antonio Spurs head coach Gregg Popovich emphasized this during the NBA Finals, telling ESPN:
When you've played for a number of coaches, he's pretty much seen everything that the NBA can offer. So he does have experience. If he's crazy enough to want to be a head coach in this league, I wish him all the best.
Per ESPN's Marc Stein, there has been talk of former Nets and Detroit Pistons head coach Lawrence Frank joining Kidd’s bench. Don’t be surprised if Frank and a number of other big-name candidates are hired in the coming weeks to join Kidd in Brooklyn.
He’s going to have to adjust quickly to his new role as a sideline leader after being a floor general for so many years. But as one of the most respected and wisest players in recent league history, Kidd has a lot going for him.
For one, he already has the public backing of his superstar point guard Deron Williams.
As long as Kidd is smart, patient and imparts much of his infinite basketball wisdom on his players, the Brooklyn Nets should find success with Kidd installed as their head coach.