Assistant coach Tony Brown will be the team’s interim head coach for the rest of the season.
“It’s clear from our current state of affairs that we need new leadership,” owner Mikhail Prokhorov said in a statement.
Yahoo! Sports’ Adrian Wojnarowski reported that “almost all” members of the Nets organization learned of the moves through the team-issued news release. King will be advising the Nets in its search for a new GM, Wojnarowski also reported.
Open Floor Podcast: Ex-Nets assistant GM Bobby Marks on his tenure
The Nets are 10–27 this season, the third worst record in the NBA, and are 48–71 since Hollins took over for Jason Kidd at the start of last season.
Since King was hired in July 2010, the Nets made three playoff appearances in six seasons.
- Dan Gartland