NEW YORK (Reuter) - The New York Knicks and Miami Heat have settled the tampering charges brought by the Knicks over their former coach Pat Riley, the NBA announced on Friday.
The agreement calls for the Knicks to receive $1 million and a 1996 first-round draft choice previously held by the Atlanta Hawks, unless the pick is a top-five selection, in which case the Knicks would receive a 1997 first-round pick.
In return, the Knicks, who had a year left on their contract with Riley, withdrew their tampering complaint against the Heat, allowing the club to enter into an employment agreement with him.
The draft choice was acquired by the Heat from Atlanta in a trade under which Miami was to receive the pick in 1996 unless it was a top-five selection.
Riley resigned as head coach of the Knicks on June 15, and the Knicks claim that the Heat and Riley had illegal contact while he was still under contract with them.
NBA Commissioner David Stern was scheduled to rule Friday on the tampering charges if no agreement was reached. Stern urged both sides to work out on agreement.
``I am pleased that the parties have been been able to resolve the matter between themselves, and I believe this agreement they have reached is a constructive one that will serve the long-term best interests of both teams and their fans,'' Stern said in a statement.
The Heat did not immediately announce the hiring of Riley.
``We are currently negotiating with Pat and will refrain from further comment until a final agreement is reached,'' the Heat said in a statement.
The New York Times reported last week that a 14-point unsigned memo outlining Riley's contract demands was sent to Heat owner Mickey Arison dated June 5, 10 days before Riley resigned as coach of the Knicks.