The Brooklyn Nets have agreed in principle to a deal making Lionel Hollins their next head coach.

Hollins' deal could be worth as much as 4 years, $20 million if the team picks up his fourth-year option, a source told ESPN.com's Ramona Shelburne.

"We have a nice nucleus to build with," Hollins told Shelburne. "We want to be better than last year, and obviously that's going to take work. We're going to work hard, be aggressive and we're never going to quit."

Hollins led the Memphis Grizzlies to three consecutive playoff appearances in his last three seasons with the team. In 2012-13, his final year at the helm, the Grizzlies won 56 games and advanced all the way to the Western Conference finals. The two sides ultimately decided to part ways, and Hollins' contract was not renewed, apparently because there were philosophical differences between him and ownership.

Hollins takes over for Jason Kidd, who left the team for the Milwaukee Bucks earlier this week.

Sources say the Nets wanted to move quickly in the wake of the Kidd saga and focused on Hollins immediately, meeting with him Monday and Tuesday.