Mike D'Antoni Resigns As Coach Of The Lakers And Gives Up $4 Million

The Los Angeles Lakers have announced that Mike D'Antoni has resigned after just two seasons as the team's head coach.

With one year left on his contract, D'Antoni had asked the team to pick up the option for the 2015-16 season, but the team refused according to Ramona Shelbourne of ESPN.com.

D'Antoni would have made $4 million next season. The team option for the following season was also worth $4 million.

The Lakers went 27-55 with Kobe Bryant missing most of the season and failed to make the playoffs for just the third time in the last 37 seasons.

"Given the circumstances, I don't know that anybody could have done a better job than Mike did the past two seasons," said Lakers General Manager Mitch Kupchak. "On behalf of the Lakers, we thank Mike for the work ethic, professionalism and positive attitude that he brought to the team every day. We wish him the best of luck."

D'Antoni was a controversial hire for the Lakers as he was chosen over Phil Jackson, who eventually joined the New York Knicks front office.