The Nets, in a midseason shake-up after years of reckless spending and trades, announced Sunday that the team had fired Coach Lionel Hollins and reassigned General Manager Billy King.
Mikhail D. Prokhorov, the Nets’ billionaire owner, said in a statement that he had made the moves to pursue “a fresh start and a new vision for the team,” which, at 10-27, owns the N.B.A.’s third-worst record, ahead of only the Philadelphia 76ers and the Los Angeles Lakers. King was in his sixth season as the team’s general manager; Hollins was in his second as coach.
“By making this decision now, it enables our organization to use the rest of the season to diligently evaluate candidates with proven track records,” Prokhorov said in the statement.