This was definitely stunning news. The timing of this announcement was eccentric. There was some intense speculation that the announcement was because of the disappointing loss to the Chicago Bulls or the dispute with Utah Jazz PG Deron Williams. At age 68, he decided to resign after 23 years as a coach. Albeit he never won an NBA Championship as a coach, his imprint on basketball will always be memorable. Sloan coached Hall of Fame players PF Karl Malone and PG John Stockton to 2 consecutive NBA Finals appearances (which they lost to Michael Jordan's Chicago Bulls).
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Why did Sloan resign as coach of the Utah Jazz? Sloan's reasoning was that it was time, and that is like a John Madden response. It could have just been that his stamina level was low, and he was unable to perform at a high level.