Phil Jackson took responsibility for the struggles of the New York Knicks this season.
"This is a mea culpa. I take responsibility for it," Jackson said.
Jackson thought the Knicks would be a playoff team this season, but they instead have the worst record in the NBA at 5-35.
The club is currently on a franchise-high 15-game losing streak, having lost 25 of 26.
The Knicks changed course this week by trading away Iman Shumpert and J.R. Smith.
"There was something going on there that didn't click toward making winning necessary or a possibility for us," Jackson said.
Jackson reiterated on Saturday that he is concerned that the team's record will make it an unattractive destination for free agents.
"We're all worried about the fact that money is not going to just be able to buy you necessary talent. You're going to have to have places where people want to come and play," said Jackson, who signed a five-year contract worth a reported $60 million last March to serve as team president. "But I do think that New York situation holds a high regard in players and agents that have contacted us. We have no lack of agents that have contacted us for their players. We still think that we have a really good chance to develop a team."