John Clayton just reported to ESPN News it's a done deal. A 3-year deal, no money mentioned. Look for a press conference soon.
Update [2007-2-8 16:45:42 by Grizz]: 5:00 PM (CST) press conference announced.
The club has called a news conference here at Valley Ranch for 5 p.m. (CST) to announce their new head coach.
After a lengthy interviewing process that included 10 candidates, it appears Wade Phillips, as reported all day, is the Cowboys' man.