Stan Van Gundy has been relieved of his duties as head coach of the Magic, while President of Basketball Operations and General Manager Otis Smith and the organization have mutually agreed to part ways.

"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,” said Martins. "These are the days you dread in this business, but we feel it's time for new leadership and new voices."

Van Gundy was named head coach in June of 2007. Van Gundy has a career NBA head coaching regular season record of 371-208 (.641), including 259-135 (.657) in five seasons in Orlando.

Smith was named general manager on May 3, 2006. He was assistant general manager during the 2005-06 campaign, after serving as director of player development for two seasons.