The news, first reported by Chris Haynes of TNT Sports, reveals that Rivers' contract is estimated to be around $40 million and will run through the 2026-27 season, as reported by Shams Charania of The Athletic and Stadium.

The speculation about Rivers being considered for the coaching position began when Adrian Griffin was abruptly fired after an impressive 30-13 start to the season. Rivers' name quickly emerged as a potential replacement, and the Bucks wasted no time in reaching out to him, engaging in conversations about the franchise's coaching job, sources tell ESPN.

Interestingly, Rivers had previously served as an "informal consultant" for Griffin during the season, according to reports from Shams Charania, Sam Amick, and Eric Nehm of The Athletic. This familiarity likely played a significant role in the decision to appoint Rivers as the new head coach.

At 62 years old, Rivers is a seasoned veteran within the NBA community. He had a successful 13-year NBA playing career in the 1980s and 1990s, where he averaged 10.9 points and 5.7 assists per game. Following his playing days, Rivers transitioned into coaching and has held positions with several teams throughout his career.

Rivers previously coached the Orlando Magic from 1999-00 to 2003-04, the Boston Celtics from 2004-05 to 2012-13, the Los Angeles Clippers from 2013-14 to 2019-20, and most recently, the Philadelphia 76ers from 2020-21 to 2022-23. With an overall coaching record of 1,097-763, Rivers boasts an impressive resume that includes 19 playoff appearances, two NBA Finals berths, and one championship title.

While Rivers' track record speaks for itself, it is worth noting that in recent years, he has faced challenges in leading his teams to deep playoff runs. Both his Clippers and Sixers failed to advance past the second round of the playoffs, raising questions about his ability to guide teams to a championship.

Nonetheless, the Milwaukee Bucks have shown faith in Rivers' leadership and experience. With a talented roster led by superstar Giannis Antetokounmpo, the Bucks hope that Rivers can help them achieve their championship aspirations in the coming years. As the five-year, $40 million deal suggests, the Bucks are committed to giving Rivers the necessary time and resources to build a successful program in Milwaukee.

It remains to be seen how Rivers will fare with the Bucks, but one thing is certain: his reputation precedes him, and expectations will be high as he takes the helm of one of the league's most competitive teams.