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Kevin C. Cox

A week after the Nets decided to let Jason Kidd go and only hours after Kidd's introductory press conference in Milwaukee, the Nets named Lionel Hollins, the veteran NBA coach who led the Grizzlies for four years, as their head coach.

Marc Stein filled in the financial details.

Scott Cacciola tweets that he spoke with Hollins who said Billy King first contacted him Sunday night. Hollins also expressed his gratitude.

David Aldridge added that Hollins is looking forward to working in New York.

Hollins led the Memphis Grizzlies to three consecutive playoff appearances in his last three seasons with the team. In 2012-13, his last year at the helm, the Grizzlies won 56 games and advanced all the way to the Western Conference finals.

A press conference has been scheduled for 10:30 a.m. Monday at Barclays Center.

Meanwhile, Peter Vecsey writes that Hollins may bring in Paul Westphal, former head coach of the Suns, as his lead assistant.

Hollins is the seventh Nets coach since their disastrous 12-70 season in 2009-10. He follows Lawrence Frank (who remains on the coaching staff), Tom Barrise, Kiki Vandeweghe, Avery Johnson, P.J. Carlesimo and Kidd.