Posted 06/04/2012 8:08 PM

Blazers name Neil Olshey GM

Updated: June 4, 2012, 10:36 PM ET

ESPN.com news services

PORTLAND, Ore. -- The Portland Trail Blazers have hired former Los Angeles Clippers GM Neil Olshey as the team's new general manager.

The announcement by the Blazers on Monday came less than an hour after the Clippers announced that they had decided to part ways with Olshey. Terms of the deal weren't disclosed.

"I am very grateful for the opportunity to become a part of this successful franchise," said Olshey in a statement released by the Blazers. "Portland is a great basketball city with a rich tradition, an incredible fan base and committed leadership. I'm joining an organization that has a strong foundation and a bright future. I couldn't be more excited and I'm ready to hit the ground running."

The Blazers say they are planning a news conference for Tuesday.

The Clippers had announced on Friday that the team had reached an agreement in principle to a new agreement with Olshey, who had been working without a contract since October 2011. A media conference call had initially been scheduled for Monday afternoon by the Clippers, but final negotiations stalled as the Trail Blazers stepped in to secure Olshey's services, according to sources.

"Circumstances have obviously undergone some movement since our announcement Friday. In light of that, we want to wish Neil well and acknowledge his contributions during the time he spent with the Clippers," said Clippers' president Andy Roeser.

Olshey had previously interviewed for the position in Portland last September during the work stoppage.

Former New Orleans general manager and coach Jeff Bower, Indiana Pacers general manager David Morway and Philadelphia 76ers senior vice president of basketball operations Tony DiLeo were among the finalists for the job.

The post has been vacant since May 2011, when the team dismissed Rich Cho, now the general manager in Charlotte. Portland's director of scouting, Chad Buchanan, has held the position on an interim basis for the past year. Olshey becomes the 10th general manager in Blazers history.

"Neil is someone we've had on our radar for quite a while," Trail Blazers president Larry Miller said in a statement released by the team. "Over the past two seasons he has demonstrated success in constructing a roster, managing salary cap and evaluating player talent. We feel very fortunate to have him in Portland and are thrilled about what this means for the future."

Said team owner Paul Allen: "(Olshey) has the skills and the vision to successfully guide our organization into a new era of Trail Blazers basketball. He's proven that he can quickly turn around a franchise, and we are confident he can do that in Portland."

Now that the Blazers, who finished the lockout-shortened season 28-38 and out of the playoffs for the first time in four years, have a general manager, they can turn their attention to hiring a new head coach. The team dismissed coach Nate McMillan at the trade deadline after more than six seasons with the team. Assistant Kaleb Canales served as coach for the rest of the season.

Olshey was elevated to run the Clippers' front office in March 2010 after serving under Mike Dunleavy as the club's assistant general manager.

During his two seasons as the top executive in basketball operations, the Clippers improved from 29-53 in 2009-10, to 32-50 in 2010-11, then vaulted into the postseason this past season with a 40-26 record, the best winning percentage in franchise history. Olshey played a central role in the Clippers' acquisition of Chris Paul and the organization's accumulation of young talent through the NBA draft.

Last week, the Clippers exercised their option on coach Vinny Del Negro, bringing him back for a third season.

Olshey had been with the Clippers for nine years, including stints as director of player development, assistant coach, director of player personnel, and assistant GM.

The Clippers are searching for a replacement for Olshey, whose responsibilities will be absorbed by Roeser, Del Negro and director of player personnel Gary Sacks.

The Clippers, in addition to a GM search, also face a summer of big decisions with star forward Blake Griffin eligible for a contract extension and Paul entering the final year of his contract.

But one source close to the process told ESPN.com's Marc Stein that Olshey's departure would have "no significant impact" on Griffin's decision, despite the fact that it was Olshey whose moves put the Clippers in position to trade for Paul in December when the Hornets' original three-team trade to send Paul to the Lakers was canceled by NBA commissioner David Stern, who was acting as the Hornets' lead decision-maker because the team was still under league ownership.

The Clippers, sources told Stein, continue to believe that Griffin will accept an extension this summer as opposed to playing out the 2012-13 season and becoming a restricted free agent in July 2013.