The Dallas Mavericks have mutually agreed to part ways with head coach Jason Kidd, the team announced Tuesday.
Kidd posted a 205-205 record over the past five seasons with the Mavs. He guided the franchise to an NBA Finals appearance during the 2023-24 campaign.
"Jason has had a meaningful impact on the Dallas Mavericks, both as a Hall of Fame player and as the head coach who helped lead this franchise back to the NBA Finals," Mavs president of basketball operations Masai Ujiri said in a statement.
"We are thankful for Jason's leadership, his professionalism and his commitment to the team. In my short time here, I've developed an enormous amount of respect for what he has built. He will always be an important part of the Mavericks family."
Kidd had four years and well over $40 million remaining on his contract, sources told ESPN's Tim MacMahon.
Kidd reportedly expressed a desire to be promoted to president of basketball operations after general manager Nico Harrison was fired in November. However, team owner Patrick Dumont informed Kidd that he wouldn't be considered for a front-office role, according to MacMahon.
Kidd was also kept out of the hiring process for Ujiri, sources told MacMahon.
Dumont gave Ujiri the authorization to move on from Kidd, MacMahon adds.
Kidd began his coaching career in 2013 with the Brooklyn Nets following a Hall of Fame playing career. The Milwaukee Bucks acquired Kidd's coaching rights from the Nets just a year later in exchange for second-round draft picks in 2015 and 2019.
He led Giannis Antetokounmpo and the Bucks to a pair of playoff appearances, but they never advanced past the first round of the postseason. He was fired midway through his fourth campaign in Milwaukee.
Kidd joined the Los Angeles Lakers in July 2019 as an assistant for Frank Vogel and won a championship in his first season on the staff.
