Cleveland, OH (My Sportsbook) - The Cleveland Cavaliers introduced Paul Silas as their new head coach during a Monday press conference at Gund Arena. Per club policy, terms of the agreement were not disclosed.

"This is a very important day in the history of the Cavaliers franchise," said owner Gordon Gund. "With Paul Silas as the Cavaliers new head coach, we believe we have found the best coach for this team. We couldn't be more satisfied with the result of our search and this is a major step in the continuation of our plan to put this team in position to be a contender for the long term."

The Cavaliers are coming off a dismal season in which they tied Denver for the worst record in the league at 17-65. The club fired head coach John Lucas midway through the 2002-03 season and hired Keith Smart for the remainder of the year.

"I live and die winning, I abhor losing," said Silas. "I can't even stand the thought of it. I understand that we have a long way to go."

Cleveland owns the No. 1 pick in the upcoming NBA Draft and has said that it will select high school phenom LeBron James.

"Having the first pick in the draft is really exciting," said Silas. "He's (James) a young player and he's going to take a lot of nurturing."

The 59-year-old Silas was fired by the New Orleans Hornets on May 4, just two days after the team was eliminated by Philadelphia in the first round of this year's playoffs.

In five seasons, Silas became the Hornets' franchise career victory leader as he guided the team to a 208-155 record. Although the club made it to the Eastern Conference semifinals two times during his tenure, it never succeeded in taking the next step.

Silas also had a three-year head coaching stint with the San Diego Clippers from 1980-83.

Prior to his head coaching duties, Silas served as an assistant coach with the New Jersey Nets during the 1988-89 season, before joining the New York Knicks from 1989-92. He then re-joined the Nets from 1992-95.

Silas also spent two seasons as the top assistant for the Phoenix Suns from 1995-97 before moving to the Hornets as an assistant coach in July, 1997.