Daryl Morey has given his standing ovation speech after announcing earlier Thursday that he would be stepping down immediately as the Houston Rockets general manager. The former GM released his statement via the Rockets' Twitter account.

https://twitter.com/HoustonRockets/status/1316886286800740357

It appears in his statement that Morey won't effectively leave the Rockets' staff until Nov. 1. With that in mind, Morey could be staying on a while in order to help Houston navigate its next course of action following another disappointing season. The Rockets are in the midst of selecting another head coach, though it's been reported by New York Time's Marc Stein to have been narrowed down to John Lucas and Jeff Van Gundy.

As Morey once stated after trading for Chris Paul back in 2017, the NBA is definitely in an arms race to obtain the best talent. While Morey was able to land names such as Paul, Russell Westbrook, and Carmelo Anthony during his tenure, it simply never added up to a deep playoff run.

The Rockets came close once during Morey's era in 2019, as Paul and James Harden pushed the juggernaut Golden State Warriors to a Game 6 before being bested. Finding the right cast for Harden has been one of the more difficult task for the Rockets front office.

With a new head coach pending and president of basketball operations Rafael Stone set to take on the mantle of GM, Houston may look to move on from it's treasured superstar in Harden while starting anew.

Morey hasn't indicated his plans upon leaving the Rockets, though with him opting to stay on in an advisory role until November, the former GM may be out the hunt for a new job anytime soon.