Auburn Hills, MI -- Flip Saunders was named the new head coach of the Detroit Pistons on Thursday.

Terms of the deal were not released during the team's news conference on Thursday afternoon, but the Detroit News reports the two sides agreed to a four-year contract worth between $4 million and $5 million per season.

Saunders replaces Larry Brown, who was relieved of his duties by the club on Tuesday.

"If I look rested it's because I got some sleep last night," said Pistons general manager Joe Dumars, who reportedly worked long hours the last week finalizing the departure of Brown and signing Saunders.

"(Saunders) is one of the better coaches in this league," added Dumars. "That is what we were looking for, an excellent coach. From the day he walks in (the players) are going to respect him. We are very comfortable handing the keys of this team over to him."

Saunders, who for some time was considered the top choice to replace Brown, was fired by the Minnesota Timberwolves in February after 9 1/2 years of service. Saunders went 411-326 with the T-Wolves, but besides his club's success during the regular season, his teams got past the first round of the playoffs only once.

"I look at this as a great opportunity and a great challenge," said Saunders, who interviewed with a number of organizations this off-season for vacant head coaching positions. "I look at the Pistons as one of the premier teams in the league."

"I had the opportunity the last couple of months to wait and evaluate situations," he added. "I had the chance to wait for the position that was right for me. I was prepared for not coaching this year. When the position became available here, my agent got on the horn and was trying to work out a deal for the last 24 to 36 hours."

Known as a players' coach and one that stresses defense, Saunders helped guide the Timberwolves to a franchise-best and league-best 58-24 mark in 2003-04. Minnesota advanced all the way to the Conference Finals before losing to the Los Angeles Lakers in six games.

However, last year was a different story for a club with high expectations coming into the season. The Timberwolves got off to a disappointing 25-26 start to the campaign, prompting the firing of Saunders.

The T-Wolves finished the season with a 44-38 mark and missed the playoffs.

In two seasons with the Pistons, Brown guided Detroit to the NBA Championship in 2004 and lost the Finals in seven games to San Antonio this past season.

The 64-year-old Brown signed a five-year, $25 million contract with the Pistons two seasons ago. However, Brown was left free to coach another team in the NBA after the Pistons reached a settlement on the last three years of his contract on Tuesday.