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“This is a different team equation, though, and one that we felt needed a different voice and approach that required this change.”
Assistant coach Damon Jones was also fired.
Lue issued a statement in which he thanked team owner Dan Gilbert, former general manager David Griffin and Altman.
“My time here in Cleveland was truly special,” Lue said.
“I am very grateful for the dedication, sacrifice and support of all the players on our team, the tremendous coaches I’ve worked with and of course, our incredible fans.”
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James expressed gratitude toward his former coach on Twitter.
“T Lue thanks for the memories and more importantly our partnership bringing a [championship] to that deserved city/fan base,” James said. “U know how to find me.”
The 41-year-old Lue was two years into a five-year, $35 million contract he signed after Cleveland won the title. He went 128-83 as Cavs coach.
Drew filled in when Lue stepped aside for 10 games last season while dealing with chest pains, insomnia and anxiety.
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