The New York Knicks will turn their basketball operations over to Donnie Walsh on Wednesday.

The Knicks will announce the hiring of Walsh as their new president at a news conference, a person with knowledge of the decision told The Associated Press. The person spoke on condition of anonymity because the move has not been made official yet. The press conference is at 1 p.m. at Madison Square Garden.

Walsh, the longtime Indiana Pacers executive, will replace Isiah Thomas as president. Thomas is also the Knicks' coach.

Thomas' future remains unclear. He has repeatedly said he expects to be with the Knicks next season, but that likely will be up to Walsh -- who hired Thomas to coach the Pacers in 2000.The New York Knicks will turn their basketball operations over to Donnie Walsh on Wednesday.

The Knicks will announce the hiring of Walsh as their new president at a news conference, a person with knowledge of the decision told The Associated Press. The person spoke on condition of anonymity because the move has not been made official yet. The press conference is at 1 p.m. at Madison Square Garden.

Walsh, the longtime Indiana Pacers executive, will replace Isiah Thomas as president. Thomas is also the Knicks' coach.

Thomas' future remains unclear. He has repeatedly said he expects to be with the Knicks next season, but that likely will be up to Walsh -- who hired Thomas to coach the Pacers in 2000.

Walsh will report directly to owner James Dolan, rather than to Madison Square Garden president Steve Mills, as was the arrangement under previous Knicks administrations. Walsh will also have the authority to establish a new media policy, one that presumably will allow him -- and the Knicks' players -- to have full freedom of speech.