The Portland Trail Blazers have fired coach Nate McMillan, a league source told Yahoo! Sports.
McMillan's dismissal comes one day after the Blazers suffered a 42-point loss to the New York Knicks and on the same day they traded forward Gerald Wallace and center Marcus Camby. After a strong start to the season, Portland has lost seven of its past nine games.
Assistant coach Kaleb Canales has been named the Blazers' interim coach, the source said. Canales, 34, worked in the team's video department from 2005-09 before being promoted to assistant coach.
McMillan joined the Blazers before the 2005-06 season after five seasons as coach of the Seattle SuperSonics. He went 266-269 in seven seasons in Portland.
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