Stefan Bondy of the New York Daily News reported the news, noting "it's fair to assume Lue wouldn't come cheap" seeing how he previously turned down a three-year, $18 million offer to coach the Los Angeles Lakers.
Bondy also pointed out that Nets general manager Sean Marks said earlier this month the team is not actively searching for a head coach during the league's hiatus due to the coronavirus pandemic and is pleased with interim coach Jacque Vaughn.
Lue and Irving enjoyed plenty of success together in Cleveland.
The coach took over during the 2015-16 campaign after David Blatt was fired. All he did was lead the Cavaliers to the championship in that first season with a dramatic seven-game victory over the Golden State Warriors in the NBA Finals.
He also led the Cavaliers to the NBA Finals each of the next two seasons—although they lost to the Warriors both times and didn't have Irving in the second one because he was on the Boston Celtics—but was fired after an 0-6 start in 2018-19 once LeBron James left for the Los Angeles Lakers.
This report comes after Vincent Goodwill of Yahoo Sports reported in March that Irving "soured" on former Nets head coach Kenny Atkinson and "currently prefers" Lue.
Joe Vardon of The Athletic suggested Irving could be over some of the tension that was apparently in place in Cleveland on the Tampering podcast (h/t Bondy):
"I think there was so much there between Kyrie and Ty that you would say this is an absurd idea that Kyrie would want to play for him again. But also I think Kyrie has gotten over his Cleveland stuff. We had the very public discussion last season about Kyrie and LeBron and sort've how Kyrie viewed his time with LeBron and what Kyrie wishes he would've done things differently. So I guess you could have the same idea with Ty."
If the 2019-20 season returns, the Nets are in playoff position with the No. 7 seed in the Eastern Conference.
It would be even better positioned to compete next season if Lue were aboard because Irving and Kevin Durant will likely be healthy and ready to return.