Phil Jackson will step down as New York Knicks president, owner James Dolan announced Wednesday.

“After careful thought and consideration, we mutually agreed that the Knicks will be going in a different direction,” Dolan said in a statement. “Phil Jackson is one of the most celebrated and successful individuals in the history of the NBA. His legacy in the game of basketball is unmatched. We wish him the best and thank him for his service to the Knicks as both a player and an executive.”

It is a bitter end for Jackson who sought to trade one of the Knicks’ best players on his way out. He never really found his footing as the team’s president and did not really show a knack for evaluating talent. Jackson was a great coach, but he did not have the great players to translate into the offense that he wanted his coach to run. It showed and that is how everyone got frustrated with Jackson.

“The New York Knicks will always hold a special place in my heart,” Jackson said. “This team and this town launched my NBA career. I will forever be indebted to them. I am grateful to Mr. Dolan for giving me the opportunity to return here. I had hoped, of course, to bring another NBA championship to the Garden. As someone who treasures winning, I am deeply disappointed that we weren’t able to do that. New York fans deserve nothing less.”

Jackson is still owed two year and $24 million left on his contract.

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Posted by Ryan Gaydos

Founder and Editor-in-Chief of the LA Sports Pulse. When I'm not doing that or asleep, I am running FoxNews.com's homepage. Follow me on Twitter @RyanGaydos.

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