Stan Van Gundy has been relieved of his head coaching job by the Orlando Magic, and the organization's General Manager and President of Basketball Operations Otis Smith has also parted ways. This according to Magic CEO Alex Martins, who gave an official statement regarding the matter.

"On behalf of the DeVos Family, we sincerely appreciate and thank Otis and Stan for all that they have done on and off the floor for the Orlando Magic. These are the days you dread in this business, but we feel it's time for new leadership and new voices."

Martins continued to praise both Smith and Van Gundy for their time spent with the organization and also offered some insight as to why the decision was made.

"They both brought die-hard dedication and an unmatched work ethic on a daily basis. Their success is well documented, as the Orlando Magic has had the fourth best record in the NBA over the last five years, and entering the playoffs this year the third most playoff wins over that period of time. The disappointment of getting eliminated in the first round of the playoffs these past two seasons played a primary role in our decision, as we feel our momentum towards winning a championship has paused. We wish Otis and Stan all the best and we look forward to taking the next step towards winning that championship."

Van Gundy was hired as head coach of the team back in 2007 after being fired as the Miami Heat coach.