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Denver Nuggets general manager Kiki Vandeweghe, in a May 2003 file photo.
Denver Nuggets general manager Kiki Vandeweghe, in a May 2003 file photo.
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The Denver Nuggets and general manager Kiki Vandeweghe have mutually agreed to part ways, the team announced Friday.

“After meeting with Kiki today, we agreed his contract will not be extended. We appreciate the time he spent with the Nuggets and wish him good luck as he seeks out his next challenge,” team owner Stan Kroenke said in a news release.

Speculation on Vandeweghe’s future has been rampant the past few months after Kroenke did not extend his contract, which was due to expire Aug. 1.

The team announced the move after Kroenke and Vandeweghe met in Los Angeles on Friday. The Nuggets haven’t decided whether to replace Vandeweghe or divvy up his duties by committee.

About the meeting, Vandeweghe told The Denver Post: “I think we both agreed that you should make this decision quickly and not let anything linger. I just wanted Stan to know how much I appreciated the opportunity and how much I care about the Nuggets and want them to do well. I wanted to look him in the eye and make sure that he knew that.”

The former standout Nuggets player said he was proud of his accomplishments with Denver.

“I appreciate all the support from the fans and the players. I’ll always have the Nuggets in my heart, no matter what I do. I always have, since I came here as a player 20-plus years ago. I want to thank the players and the fans especially.”

As this past season wore on and splits in the upper management ranks became apparent, few inside the organization expected Vandeweghe to be retained once the Nuggets were bounced from the playoffs, which the Los Angeles Clippers did Monday night.

“When the top of your leadership is not together, it hurts everybody,” Nuggets coach George Karl told The Denver Post. “I don’t know the details. I just know that the feelings and animosities that had to be worked through this year. A lot of them were on the team. A lot of them were around the team. A lot of them were because of the team.”

He added, “Instead of trying to heal our (team) wounds and solve our animosities, it’s probably best for everybody to move on.”

Vandeweghe, hired Aug. 9, 2001, helped lead the franchise back to the playoffs three years ago after an eight-year drought. He turned one of the laughingstock franchises in sports into a playoff team by engineering one of the largest salary dumps in NBA history, then using the salary-cap space to later sign free agents such as Kenyon Martin, Andre Miller, Marcus Camby and Earl Boykins.

But the team’s inability to make it out of the first round the past three years – especially this season – led to huge disappointment among players, ownership and fans.

Karl said he would not be a candidate for the general manager’s position.

“There is no question that my desire is to coach basketball and regroup my basketball coaching staff and re-energize my team,” he said. “I don’t want any part of that. I would like to be a consultant and involved, but involved on my schedule.”

Every player on the Nuggets’ current roster was signed by Vandeweghe, including Carmelo Anthony and Camby, whom the team acquired with Nene in a 2002 draft-night steal for an injured Antonio McDyess. The team also received late-season boosts from trading-deadline deals that brought Eduardo Najera in 2005 and Reggie Evans and Ruben Patterson this spring.

Staff writer Mark Kiszla contributed to this report.

Staff writer Adam Thompson can be reached at 303-820-5447 or athompson@denverpost.com.

Staff writer Marc J. Spears can be reached at 303-820-5449 or mspears@denverpost.com.

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