Golden State Warriors executive Mike Dunleavy Jr. has agreed to a deal to become the franchise's new general manager, sources told ESPN on Friday.

Dunleavy is elevating from vice president of basketball operations and will replace former president and GM Bob Myers, who recently stepped down after 11 seasons and four championships.

Dunleavy's representatives at Excel Sports Management finalized talks on a new long-term deal with owner Joe Lacob on Thursday, sources said. A formal announcement is planned for Friday morning with a news conference set for Monday.

Dunleavy will join executive vice president of basketball operations Kirk Lacob in larger decision-making roles for the Warriors. After getting drafted third overall in 2002 and spending four-plus seasons with the Warriors, Dunleavy played 15 seasons in the NBA before retiring. Myers hired him as a scout in 2018, and his rise in the Warriors' front office has been rapid.

The Warriors are approaching an important franchise crossroads that includes Draymond Green's $27.6 million player option for next season and discussions on a possible extension and plans for Klay Thompson as he enters the final year of his contract. The Warriors are facing a potential payroll and luxury tax bill of $500 million and looming changes to the collective bargaining agreement that will penalize high-spending teams like the Warriors.

Golden State lost in the Western Conference semifinals to the Los Angeles Lakers last season.

Dunleavy is the son of longtime NBA player, coach and executive Mike Dunleavy Sr. and won a national championship with Duke in 2001.