Jackson: 'Knicks will always hold a special place in my heart'

Phil Jackson's much-maligned tenure as New York Knicks president ended with a thud Wednesday morning. In a prepared statement, Madison Square Garden chairman James Dolan made official the news that broke overnight, saying he and Jackson had mutually agreed to part company.

"The New York Knicks will always hold a special place in my heart," Jackson's portion of the statement read. "This team and this town launched my NBA career. ... As someone who treasures winning, I am deeply disappointed that we weren't able to do that."

Jackson played for the Knicks from 1967-78, winning two championships (the last the franchise has won). After an illustrious coaching career in which he won 11 more titles directing the likes of Michael Jordan, Shaquille O'Neal, and Kobe Bryant, Dolan tabbed him to be New York's president.

The team has gone 90-191 since he was hired on March 18, 2014.

The Knicks will now reportedly focus their efforts on recruiting Toronto Raptors president Masai Ujiri as a replacement, bringing in Ujiri's former boss, Tim Leiweke, as an adviser.