No terms were announced. Reports have indicated he got four years.
Frank had been a Nets' assistant coach for 3 1/2 years before being named interim coach in January, when Byron Scott was fired.
He was named permanently on June 21, 2004.
Frank won his first 13 games, setting a league record for most consecutive wins to start a coaching career. It was the longest winning streak of any coach in any of the four major professional sports to begin a career.
The Teaneck, N.J., native spent three seasons as an assistant coach for the Vancouver Grizzlies, and has been an assistant at the college level at Marquette and Tennessee.