Portland Trail Blazers assistant coach Monty Williams will be the next head coach of the New Orleans Hornets, according to ESPN’s Marc Stein.

The New Orleans Hornets quickly reached an agreement Friday night with Portland Trail Blazers assistant coach Monty Williams to be their next head coach after Boston Celtics assistant Tom Thibodeau withdrew from consideration earlier in the day, according to sources close to the situation.

Sources told ESPN.com that Williams’ deal will be made official no later than Saturday after Thibodeau, who was offered New Orleans’ job last week, informed the Hornets that he plans to pursue opportunities with the Chicago Bulls and New Jersey Nets.

Williams’ coaching stock has risen quickly after he got his start in San Antonio under Gregg Popovich during the Spurs’ 2004-05 championship season. He joined the Blazers in August 2005 as an assistant to Nate McMillan and took on added responsibility this season when an Achilles injury restricted McMillan’s mobility on the bench during games.

ESPN.com reported Thursday that the Hornets, even had Thibodeau accepted their offer, were hoping to hire Williams as an associate head coach to Thibodeau.

Well, hopefully this makes Chris Paul happy, because the near-term success of the franchise depends on him.