MIAMI, Oct. 24 (UPI) -- In a stunning development Friday, Pat Riley stepped down as coach of the NBA's Miami Heat.
At an impromptu news conference, Riley told reporters that he is handing the reins to assistant coach Stan Van Gundy but will remain the team's president.
"The philosophy won't change," Van Gundy said. "We will remain a defense-oriented club. In terms of what we're doing, nothing on the floor changes."
"I believe we've turned the corner," said Riley. "With the nucleus of guys we have now, I believe this is the right time for this change. It's a very difficult decision to step aside."
Riley, 58, has coached the Heat for seven seasons. The Heat won four Atlantic Division titles in eight years under Riley, but have failed to make the playoffs the last two seasons.
In 21 years, Riley has an overall record of 1,085-502 as coach of the Los Angeles Lakers, New York Knicks, and Miami.
His 1,085 regular season victories trail only Lenny Wilkens on the NBA's all-time list. His 155 postseason victories are one shy of Lakers' coach Phil Jackson, and he won four world championships with the Lakers.
Miami opens the new season Tuesday against Philadelphia.
