76ers fire GM/president King, bring in Stefanski (AP/USA Today)

As we mentioned in the Snooze Bar Tuesday, the Philadelphia 76ers have fired general manager/president Billy King and replaced him with New Jersey Nets general manager Ed Stefanski.

King, who has been with the organization since 1997, was relieved of his duties in the final year of his deal.

The Sixers are 5-12 and in last place in the Atlantic Division. After reaching the NBA finals in 2001, Philadelphia has missed the postseason three of the last four years and King traded former MVP Allen Iverson to Denver last December.