Willis Reed Steps Down as Head Coach of Nets

Willis Reed stepped down as head coach of the New Jersey Nets today to become a vice president in the organization, the club announced.

Reed becomes vice president of basketball and business development, which will oversee the team, personnel and marketing aspects of the Nets, said John Mertz, the team spokesman.

Reed has agreed to take the new post under a five-year contract.

Nets General Manager Harry Weltman will direct a search for a new coach, Mertz said.