Grant, 38, had been the team's general manager since 2010, when he took over for Danny Ferry. But Grant has been criticized for multiple failures during the draft process and bringing quality free agents to the team. The team has only won 29 percent of their games since LeBron James bolted for Miami in the summer of 2010.
"I would like to thank Chris Grant for his eight and a half years of service with the Cleveland Cavaliers, the last three and a half as General Manager," owner Dan Gilbert said in a statement. "Chris always conducted himself with class, integrity and was motivated by what he believed was right for the organization. We wish Chris and his family the best in the years to come."
Grant did draft All-Star guard Kyrie Irving with the top pick in 2011, but the team surprisingly drafted forward Anthony Bennett, who has only averaged 3.3 points and 2.6 rebounds in his rookie season.
Things came to a head last night when the Cavaliers lost to the Los Angeles Lakers, when the Lakers came into the game with only eight available players. They finished the game with four eligible players but still beat the Cavs 119-108.