Following the worst season since the team moved to Los Angeles from Minneapolis in 1961, Mike D'Antoni has resigned his post as Lakers head coach, the team announced Wednesday night.

The Lakers finished the 2013-14 season 27-55, the worst 82-game record in team history.

According to multiple media reports including ESPN and Yahoo Sports, D'Antoni reportedly quit because the Lakers refused to exercise their option to extend his contract for the 2015-16 season.

According to ESPN, D'Antoni had one more guaranteed year on his present contract that paid $4 million per season. The team option for 2015-16 was reportedly for the same amount, according to media reports..

"Given the circumstances, I don't know that anybody could have done a better job than Mike did the past two seasons," Lakers general manager Mitch Kupchak said in a statement. "On behalf of the Lakers, we thank Mike for the work ethic, professionalism and positive attitude that he brought to the team every day. We wish him the best of luck."

D'Antoni was hired early in the 2012-13 season to replace Mike Brown after the team struggled. Including the remainder of that season as well as 2013-14, D'Antoni compiled a 67-87 record as Lakers head coach.

The Lakers were the fourth NBA team D'Antoni has served as head coach, previously having led the Denver Nuggets, Phoenix Suns and New York Knicks. His overall career record for all four teams as head coach was 455-426.

In announcing D'Antoni's departure, the team said a search for his replacement will begin immediately.