Reading Rockets have parted company with head coach Manuel Pena Garces “by mutual consent”.
The Spaniard had been in charge of the Rockets for five years, but this season ended in disappointment with a surprise play-off semi-final defeat to Hemel Storm.
“We part company on with Manuel on good terms having enjoyed five solid seasons working together,” said Rockets chairman Gary Johnson.
“This has been a mutual decision and we wish him all the best for the future.
“The vision for Reading Rockets is very clear – to attain British Basketball League status.
“We will now set out a renewed direction for the club, both technically and operationally, to allow us to fulfil this aspiration.
“Rockets turns 21 in 2018, which is heralding a new era for the club.”
He added: “We recognise the hurdles we have to overcome, which lie most urgently and importantly in finding a permanent home for the Reading Rockets.
“Only from such a venue, can we truly showcase basketball in our region in a representative manner, fitting of BBL status.
“There is a lot of work to do, but we remain committed to meet our ambitious goals and to put Reading on the international basketball map.”
Reading have enjoyed some good times under Pena Garces, finishing runners-up in both the league play-offs and National Trophy as recently in 2016, having won the Trophy a year before.
And the Spaniard, whose contract expires officially in July, has not yet decided where his next move will be.
“We are finishing something really positive this summer,” he said.
“I’m not yet thinking about the future
“Thanks to the club, staff, players, supporters and volunteers for making these past five years such a great time.
“I wish everyone associated with the Rockets all the best.”
