The Los Angeles Lakers and Luke Walton mutually agreed to part ways after three seasons together on Friday. Lakers general manager Rob Pelinka confirmed the decision and has now begun the search for the team’s next head coach.

It was widely expected that Walton would be shown the door after yet another disappointing season that saw the Lakers miss out on the playoffs for a franchise record sixth successive season. The arrival of LeBron James also failed to inspire the team as it finished in 10th place in the Western Conference with a 37-45 record, which was just two wins more than last season.

Walton’s exit came on the back of Magic Johnson’s surprise decision to step down from his position as the president of basketball operations last Tuesday. Pelinka will now spearhead the search for the Lakers’ next head coach.

ESPN’s Adrian Wojnarowski reported that the Lakers would begin meetings with prospective candidates this week, with Philadelphia 76ers top assistant Monty Williams and former Cleveland Cavaliers coach Tyronn Lue expected to be the main candidates. The team is expected to meet the Sixers assistant between Games 2 and 3 of their ongoing first round playoffs against the Brooklyn Nets.

The Philadelphia franchise suffered a shock loss Saturday to the Nets in the opening game of the seven-game series and play their second game Monday night at their home stadium, Wells Fargo Center. They will have two days off before Game 3 which is when the Lakers are expected to meet and interview Williams for the head coaching job.

The Lakers are also expected to interview Lue this week and have also got permission to speak to Miami Heat assistant coach Juwan Howard. The latter was also reportedly set to meet the Cavaliers for the team's vacant head coaching position.

Meanwhile, Walton was unemployed for all of 24-hours, with the Sacramento Kings immediately snapping up the former Lakers head coach. He reportedly agreed a four-year deal with the California franchise that finished in 9th place, nine games out of the playoffs.

Walton is a highly regarded coach despite his failures with the Lakers, and Golden State Warriors head coach Steve Kerr believes it was a great opportunity for his former top assistant. The Kings has a great core of young talent and they had their best season in terms of wins since the 2005-06 campaign.

"Happy for Luke," Kerr said Sunday, as quoted on Yahoo Sports. "That was quick."

"Great opportunity," the Warriors coach added. "Really nice, young team. I thought Dave Joerger did a tremendous job there the last few years, and they've established a really good foundation, so it's a hell of an opportunity for him."