"Over the past couple days, I've been asked: 'Why Milwaukee?' My answer is simple: there is no place I'd rather be," Kidd wrote. "Over my twenty years in the NBA as a player and a coach, I have always been impressed with the level of support that Bucks fans have given this team, in good times and bad.

"With a talented roster, new owners that are passionate about being successful in Milwaukee, and a great fan base, we have the makings of something special here and I'm proud to be leading this new era of Bucks basketball."

Kidd signed a three-year, $15 million contract with the Bucks, sources told ESPN.com's Marc Stein, after Milwaukee acquired his coaching rights from the Brooklyn Nets.

On June 25, Kidd, who had just completed his rookie season as coach of the Nets, approached Brooklyn ownership about getting final say in player personnel decisions, Nets general manager Billy King said during an interview on ESPN Radio.

Brooklyn ownership denied his request, prompting Kidd's agent, Jeff Schwartz, to reach out to Milwaukee ownership. The Nets then granted the Bucks permission to speak with Kidd.

While negotiations between the two sides were supposed to be kept private, word leaked that Kidd, who still had three years remaining on his four-year, $10.5 million deal, was likely on his way out.

Brooklyn quickly hired Lionel Hollins to replace Kidd, who has since denied that he tried to make a power play. New Bucks co-owners Marc Lasry and Wes Edens have admitted that they regret how everything went down. Former Bucks coach Larry Drew, who was fired, and general manager John Hammond were initially kept in the dark as Lasry and Edens were in talks with Kidd. Initially, it was believed that Kidd would become president of basketball operations, but that was not the case.