The New York Knicks have decided to part ways with and fire head coach Tom Thibodeau after losing the Eastern Conference Finals in six games to the Indiana Pacers, first reported by Shams Charania of ESPN.

Thibodeau, 67, has spent the last five seasons with the Knicks, leading them to the playoffs in four of those years. The team recently made the Eastern Conference Finals for the first time in 25 seasons, and Thibodeau coached the Knicks to consecutive 50-win seasons for the first time since the 1994-95 season.

This decision was made by lead executive Leon Rose, with the support of owner James Dolan, according to Stefan Bondy of the New York Post. The only goal in New York is to win a championship with star point guard Jalen Brunson as their centerpiece, and the organization believes there are better options to achieve this than with Thibodeau on the sideline.

Last offseason, the Knicks and Thibodeau agreed to a three-year extension that would've kept him in New York through the 2027-28 season. That extension would have begun at the start of the 2025-26 season. He is owed $30 million as a result of being fired.

Although Thibodeau had the support of many within the organization, including Brunson, this was a decision that Rose made due to the team's failure to capitalize on their immediate championship potential this season after knocking off the defending champion Boston Celtics.

“As soon as the Knicks season ended, they started having meetings internally,” Charania said on the Pat McAfee Show. “James Dolan, the Knicks owner, Leon Rose, their president — they believe the best path for this team to take the next step as an organization and win a championship is that they need a new voice.

“Rose and Dolan came to a decision this morning (Tuesday) that they were going to part ways with Tom Thibodeau.”

While this is a shocking move to many around the league, especially given the progress Thibodeau has made in New York through the years and getting this organization on the doorstep of the NBA Finals, it was a decision Rose and Dolan made together to maximize the franchise's championship aspirations.

“Our organization is singularly focused on winning a championship for our fans,” Rose said in the team's press release on Tuesday afternoon. “This pursuit led us to the difficult decision to inform Tom Thibodeau that we've decided to move in another direction.

“We can't thank Tom enough for pouring his heart and soul into each and every day of being the New York Knicks head coach. He led us not only with class and professionalism for the past five seasons but also to tremendous success on the court with four postseason berths and four playoff series victories.

“Ultimately, we made the decision we feel is best for our organization moving forward. Tom will always be a part of our Knicks family and we truly wish him nothing but the best in the future.”

Knicks' next steps without Thibodeau

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Knicks head coach Tom Thibodeau looks on prior to game six of the eastern conference finals against the Indiana Pacers for the 2025 NBA Playoffs at Gainbridge Fieldhouse
Trevor Ruszkowski-Imagn Images

Where the Knicks go from here is the big question everyone around the league is asking.

Rose and Dolan made this decision to fire Thibodeau with the mindset that there are better options out there who can lead this team to a title. Who those options are is unknown at this juncture, although former Denver Nuggets coach Michael Malone and former Villanova coach Jay Wright stand out as two obvious options.

Malone led the Nuggets to a championship in 2023 before being relieved of his duties with three games remaining in the regular season. His championship experience and proven ability to coach stars match exactly what the Knicks are seeking.

Wright won two NCAA championships during his time at Villanova before retiring in 2022. The main reason why Wright's name has been connected to the Knicks through the years is due to his ties with Brunson, Josh Hart, and Mikal Bridges, three of his former Villanova players.

These established relationships and proven track record of winning championships together obviously headline Wright's resume if he is interested in getting back into coaching, especially at the professional level.

Other names who could appear as candidates for the Knicks job include current UConn head coach Dan Hurley, who was in the running for the Los Angeles Lakers head coach opening last offseason, and former Memphis Grizzlies head coach Taylor Jenkins.

Where the Knicks go from here with major offseason dates approaching, such as the 2025 NBA Draft on June 25 and free agency at the start of July, becomes one of the biggest mysteries in the NBA.