From NBCSports:

No team has looked worse in the last two weeks and fallen apart more from the start of the season than the Portland Trail Blazers, and coach Nate McMillan has paid the price.

Portland has fired coach Nate McMillan, tweets Adrian Wojnarowski of Yahoo.

There are not a lot of details, but McMillan was considered on the hot seat. In the last two days Portland had been blown out by Indiana and the Knicks and had been in a free-fall that had taken them out of the playoffs in the West.

Portland spent the trade deadline day getting rid of salary and setting themselves up for a rebuild on the fly around LaMarcus Aldridge. Clearly they wanted someone else to coach that team.

Assistant Kaleb Canales will take over in the interim.