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09:11 AM ET 06.04 | Donnie Walsh is stepping down as Knicks president, but he had some help deciding to leave the Garden. "He was lied to," one person familiar with the situation said yesterday after Walsh had a verbal agreement weeks ago with Dolan to return as team president with full autonomy in basketball operations. The 70-year-old was even willing to take a paycut to finish the job of returning the Knicks to NBA relevance. The wording in the contract did not give Walsh full and final authority to hire and groom his successor -- which was something he sought. The source said Walsh was offered a downgrade in salary to roughly $2.5 million after making in the $4.5M range this past season. "The 40-percent paycut was an insult but money had nothing to do with it," the individual said. "It was more insulting that he didn't believe he'd have the full autonomy to run the basketball."

Donnie Walsh, Nathaniel S. Butler/NBAE via Getty Images

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June 4, 2011 09:37 AM ET

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maybe isiah bad mouthed walsh?

SusoNod-Manila

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June 4, 2011 09:45 AM ET

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your better off somewhere else bro

DENVERROB

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June 4, 2011 10:04 AM ET

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Can't wait to see who the replacement is...

Otis B. Driftwood

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June 4, 2011 10:21 AM ET

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QUOTE(#5):

Originally posted 10:15 AM ET 06.04 by G-B

Could be Phil Jackson...

not gonna happen period!

SusoNod-Manila

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June 4, 2011 10:22 AM ET

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how abt odds of hiring isiah again????? anybody

SusoNod-Manila

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June 4, 2011 10:32 AM ET

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This is the worst news of the week. I'm not Walsh fan, but the Knicks are again DIRECTIONLESS.

The Action Brown

New York , NY

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June 4, 2011 10:33 AM ET

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QUOTE(#2):

Originally posted 09:40 AM ET 06.04 by jgb

It is what it is.......The salary redction is a bit of a d-ck moveBt I have no problem with them not wanting hm to have control over a successorDonnie also is old and this teams core is set for 3-4 years, we need someone thawiill be around.

LOL, you of all people should know better...

Does PAT RILEY ring a bell? The Knicks will never learn.

The Action Brown

New York , NY

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June 4, 2011 10:42 AM ET

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They will never learn, Bro.

I Love LA

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June 4, 2011 11:04 AM ET

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Dolan is an idiot. Walsh has made the knicks respectful once again...and what does Dolan do to reward his great work....a 40% reduction and will not give him full control. Way to go again Dolan. I wish your father was still around to run the knicks.

gmanfan2

Milford , CT

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June 4, 2011 11:08 AM ET

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HERESSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS, THOMAS!!!!

Chitown's Finest!

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June 4, 2011 11:35 AM ET

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QUOTE(#12):

Originally posted 10:52 AM ET 06.04 by Mr.Jay

The Knicks insulting and lying to their veteran and respectable GM ? Of course ! What else would you expect from the Knicks ? Especially with Dolan at the helm !

Amazing. If Isiah isn't picked to replace Dolan, why would Dolan's replacement think he'd fare any better than Dolan has?