Knicks Fire Coach Derek Fisher

Derek Fisher

Nearly halfway through his second season, the New York Knicks fired coach Derek Fisher on Monday (Feb. 8), reports ESPN.

The firing comes after the team lost its fifth straight, and nine of its past 10.

"This is a very talented team with strong character and I am confident they will succeed," Fisher said in a statement. "Obviously, I'm disappointed, but have learned an immense amount from this experience and hope to grow from it."

So far this season, the Knicks are 23-31. Last year, they went 17-65 in Fisher's first season in 2014-15.

Sources say team management believes that Fisher was not transitioning from the role of player to coach effectively.

Team president Phil Jackson hired Fisher as coach in the summer of 2014, weeks after he officially retired as a player. He took over for Mike Woodson, who went 109-79 in parts of three seasons in New York, winning just one playoff series.

The Knicks currently sit 12th in the Eastern Conference.