NBA News Update: Daryl Morey steps down as Houston Rockets GM; Executive VP Rafael Stone set to replace him

Following their exit at the LA Lakers' hands in the NBA playoffs, the Houston Rockets are headed towards a rebuild. After the departure of head coach Mike D'Antoni, General Manager Daryl Morey has now stepped down from his position. On that note, let's take a look at the latest edition of the NBA news update.

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NBA News Update: Daryl Morey steps down as the General Manager of the Houston Rockets

Houston Rockets v Los Angeles Lakers - Game Five

The Houston Rockets have one of the most competitive rosters in the league. With two former MVPs in their backcourt, the Houston Rockets were expected to win the NBA championship this season. However, they had a tough postseason, as they were taken to seven games by OKC Thunder in the first round of the playoffs. This was followed by a Western Conference semi-finals exit at the hands of the LA Lakers.

ESPN Sources: Houston Rockets general manager Daryl Morey is stepping down. https://t.co/NTmplVtWcl

— Adrian Wojnarowski (@wojespn) October 15, 2020

With James Harden and Russell Westbrook in their prime, the Houston Rockets management wants the team to be contenders for the foreseeable future. The top brass has already shown its intent, with General Manager Daryl Morey now following head coach Mike D'Antoni to the exit door.

Houston Rockets v Los Angeles Lakers - Game Five

According to ESPN insider Adrian Wojnarowski, the Houston Rockets are set to promote Executive Vice President of Basketball Operations Rafael Stone to the General Manager's post. Stone is a key part of the Houston Rockets organization and has played a crucial role in their ascent over the last few years. Rafael Stone will become the 10th current Black executive to hold the GM title in the NBA.

The Rockets are planning to promote Executive VP of Basketball Operations Rafael Stone to general manager, sources said. Stone has played a significant part in the Rockets’ team building throughout his tenure with the organization. https://t.co/SmBlhaCIu8

— Adrian Wojnarowski (@wojespn) October 15, 2020

Daryl Morey was regarded as one of the best General Managers in the league by his peers. Known for his analytical approach towards NBA trades, the former Boston Celtics Senior Vice President of Operations played an important part in helping the Houston Rockets reach the Western Conference Finals.

It's the closest the Texas-based franchise has reached to the NBA championship, and it will be a tough task for Rafael Stone to replicate Morey's success.