Michael Malone during a Denver Nuggets game against the Golden State Warriors on April 4 in San Francisco. Photo: Eakin Howard/Getty Images

The Denver Nuggets fired head coach Michael Malone after 10 seasons, per a team statement on Tuesday.

Why it matters: With just three games left in the regular season, it’s a shocking exit for Malone, who led Denver to its first NBA title in 2023 and is the winningest coach in franchise history.

Driving the news: General manager Calvin Booth was also dismissed, with the team saying his contract will not be extended. He’s been with the organization since 2017 and GM since 2020.

• Assistant coach David Adelman will step in as head coach for the remainder of the season, the team said.

State of play: The Nuggets are currently on a four-game losing streak — their longest this season — as they battle for a playoff seed in a Western Conference that’s grown stronger after a string of blockbuster trades.

• Denver is sitting fourth in the Western Conference with a 47-32 record.

Between the lines: Reigning MVP and Nuggets’ center Nikola Jokić is having one of the best statistical seasons of any player in the league’s history, ranking in the NBA’s top five for scoring, rebounds, assists and steals.

Yes, but: The Nuggets have struggled to capitalize on his historic season since the All-Star break, unable to string together consistent winning streaks, and splitting series with the best teams in the conference.

Case in point: Jokić’s heroic 61-point game against the Minnesota Timberwolves on April 1 proved fruitless as Denver lost in double overtime to the playoff contender.

What they’re saying: “Has an NBA team ever wasted greatness the way the Nuggets are wasting Nikola Jokic right now?” Denver Post sports columnist Sean Keeler wrote Tuesday.

The bottom line: Losing a head coach paints a dire playoff picture for the Nuggets, who will likely need to win their final three regular season games — and hope other Western Conference teams lose — to avoid the play-in tournament.