New York, NY -- (Sports Network) - The New York Knicks made it official on Tuesday and introduced Mike D'Antoni as their new head coach.

D'Antoni and the Knicks agreed in principle to a deal late Saturday. Terms were not disclosed during Tuesday's press conference, but the New York Post has reported it to be worth $24 million over four years.

"This is a great opportunity for me," said D'Antoni. "I'm excited to get started."

D'Antoni left the Phoenix Suns after four-plus years at the helm and had his choice of jobs, speaking with the Chicago Bulls in addition to the Knicks.

"It was time for me to move on," D'Antoni said about his decision to leave the Suns. "I couldn't think of a better place to coach than New York."

The Knicks, under new president Donnie Walsh, were in the market for a new head coach after Isiah Thomas' disastrous two-year run on the bench ended with a record of 56-108.

"Mike D'Antoni is the right man to build this team," Walsh said Tuesday. "Mike is a proven winner in this league. We will work together to build this team to be competitive and bring excitement back to Madison Square Garden."

D'Antoni, the 2004-05 NBA Coach of the Year, led Phoenix to a 253-136 mark in the regular season, but the team did not have as much playoff success with a record of just 26-25.

The Suns twice reached the conference finals under D'Antoni and this year suffered a first-round ouster by San Antonio. His teams have been criticized for not playing enough defense to win in the playoffs.

"I think every coach tries to coach both sides of the ball," D'Antoni stated. "We just try to put the players into position to win, whether it's offensively or defensively. I think our guys got a little bit of a bad rap in Phoenix for not playing defense.

"We want to win a championship. I know all the components you have to have. You have to have great offense and great defense."

D'Antoni also coached 50 games with the Denver Nuggets in 1998-99 and amassed a 14-36 mark.