Why is Daryl Morey leaving Rockets? Houston GM to officially resign on November 1

Just over a month after exiting the NBA playoffs at the hand of the Los Angeles Lakers, the Houston Rockets are without two of the key leaders of the team. Head coach Mike D'Antoni announced his intention to leave the franchise last month, ending his four-year association with the Rockets. While General Manager Daryl Morey was said to be safe after Rockets' playoffs elimination, the 48-year-old has also decided to step down from his position, thereby ending his 13-season tenure as the front office executive of the Rockets. 

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Why is Daryl Morey leaving Rockets?

Speaking to reporters after announcing his decision to resign from his position, Daryl Morey cited personal reasons being key for his departure, stating it is a right time to move on and explore other ventures in his professional career. Speaking to ESPN on Thursday night, in a telephone interview that also included Rockets owner Tilman Fertitta, Morey said the timing of his exit works perfectly for him as he will look to spend time with his two college-aged children. 

"For me, it was just a great run," he told ESPN. "Personally, the timing worked for me. My youngest son just graduated from high school, and it was just the right time to see what's next with family and other potential things in the future. It just felt like the right time."

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Daryl Morey spent 14 years with the franchise, 13 of which were as the head of the basketball operations. He approached Fertitta with the idea of leaving his job after Houston's elimination from the NBA playoffs last month. Despite Fertitta wanting Morey to continue, the agreement was worked out for his exit.

The Rockets issued a statement noting Daryl Morey will officially resign as the Rockets GM on November 1. In the interim, the 48-year-old will work closely with the bosses in their search to find a new head coach for the team. 

Daryl Morey net worth

The Daryl Morey net worth figure remains unknown. However, his net worth is estimated to be in millions, especially considering he signed a five-year contract extension with the Rockets in 2019. Morey reportedly earned $8 million per season after his extension. Having joined the Rockets' front office in 2006, Morey has been an influential figure amidst the Rockets' success in the NBA.

The Rockets made the playoffs 10 times since Morey was appointed as the GM in 2007. The also includes the last eight seasons, which is the longest active playoffs streak in the NBA. Morey was the key in bringing James Harden to Houston from OKC Thunder in 2012. Last year, the Rockets united Harden with his OKC teammate Russell Westbrook by working out another trade.

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Daryl Morey made the headlines last year after his support for the Hong Kong protests hurt the NBA's business in China. Broadcast of Rockets' games in China was subsequently banned, escalating tensions between the league and one of its most important overseas markets. 

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(Image Credits: AP)