Donnie Walsh will step down as the president of the New York Knicks at the end of June, the team announced on Friday. Via John Schuhmann, the team sent out a statement from franchise owner James Dolan announcing the news.
Walsh took over the franchise in the aftermath of the Isiah Thomas era. Walsh came aboard in 2008, replacing Thomas at the helm of the front office. He hired Mike D'Antoni as the head coach, and methodically tore down the Knicks' exceedingly high payroll in order to make a run at the vaunted free agent class of 2010.
While the Knicks struck out on LeBron James and Dwyane Wade, Walsh did land Amar'e Stoudemire. In February, he consummated a long-rumored trade for Carmelo Anthony, and the Knicks broke their NBA-worst playoff drought. Once there, they were eliminated in four games by the Boston Celtics as Stoudemire and Chauncey Billups struggled with injuries.