The Chicago Bulls will retain Gar Forman as general manager and Fred Hoiberg as head coach despite missing the playoffs.
"Gar and I are accountable for what this team did this year," executive vice president of basketball operations John Paxson said. "We don't run away from it. We accept it. That's on us."
Jerry Reinsdorf released a statement backing his management team and thanking fans for sticking with a team that "fell far short of our expectations."
Reinsdorf vowed to be "strategic and aggressive" in improving the team, promising the "resources needed."