George Karl confirmed to his current employer, ESPN, that he has agreed to become the new head coach of the Denver Nuggets.

A formal announcement is expected at 1:30ET in Milwaukee, the scheduled site of Denver's next game. Coincidentally, it was the Milwaukee Bucks that fired Karl as their head coach prior to the 2003/04 season.

The longtime NBA coach and the Nuggets worked out most of the details of a contract Wednesday night, a source close to the team said on condition of anonymity.

George Karl is the 13th winningest head coach in league history, winning 708 games with Cleveland, Golden State, Seattle, and Milwaukee. Karl also coached Real Madrid of Spain for a season.

He holds a streak of at least 12 seasons with a .500 or better winning percentage, with his biggest success coming in 1996, when his Seattle Supersonics reached the NBA Finals, losing to Jordan's Bulls.

Via ESPN

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