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Billy King releases statement, thanks Prokhorov & company

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One day after being reassigned to a yet unspecified advisory position within the Nets organization, former general manager Billy King released a statement and thanked many around the Nets organization.

"I would like to thank Mikhail [Prokhorov] for the opportunity that he accorded over me over the past five plus years as the team's general manager. Working with him and Dmitry [Razumov] has been a very positive experience, and I truly appreciate their friendship and support throughout our years of working together, and value the hard work and commitment of the players, coaches, and work associates who have been a part of the Nets during my tenure. I would also like to thank Brett Yormark and his staff for a great partnership. My family and I thoroughly loved our experiance in New Jersey and here in Brooklyn,and hope the fans experience the success they deserve."

King was GM of the Nets for five and a half seasons and won just a single playoff series in the time. It was said that King would stay within the organization, or "reassigned," but Mikhail Prokhorov clarified what type of role he may have.

"He can send me any of his ideas as a friend, but for the time being, it's not his job for the time being, Mikhail Prokhorov said. "And his position for the time being is under discussion."

No matter what happens with Billy King, he'll always be remembered for notoriously trading away picks -- one that turned into Damian Lillard -- and the next waiting to happen in Boston.

You can see the respect between Billy and Nets players, but his time has ran out. Frank Zanin will take over the duties for the time being.