By: Randy Cruz (@cruzr83)

It's a new day for the New York Knicks.

As it was reported earlier today by many media outlets, Mike Woodson and his entire coaching staff were relieved of their duties by Team President Phil Jackson. 

In a statement, Phil Jackson thanked Mike Woodson and also gave an indication of what Knicks fans should expect as far as the building process is concerned.

“I have a tremendous amount of respect for Mike Woodson and his entire staff,” Jackson said. “The coaches and players on this team had an extremely difficult 2013-14 season, and blame should not be put on one individual. But the time has come for change throughout the franchise as we start the journey to assess and build this team for next season and beyond. Everyone in this franchise owes a great deal of gratitude to what Mike and his staff have done. We wish him the best.”

If you're a Knicks fan, this move wasn't a surprise. Maybe a little shock to the firing of the entire staff -- but nonetheless, Woodson's days as Knicks head coach were numbered. 

Woodson took over for Mike D'Antoni during the 2011-2012 season, going 18-6 before being eliminated by the Miami Heat in five games in the first round. With a full season, Woodson led the Knicks to their first Atlantic Division title since 1994, spearheading the team to 54 wins before being eliminated by the Indiana Pacers in six games in the Eastern Conference Semifinals. 

This season?

37 wins for a team that was expected to not only make the playoffs, but go deeper than they did last season -- competing against the defending champion Miami Heat to represent the Eastern Conference come Finals time.

Who replaces him?

Many seem to point at Steve Kerr's direction. Kerr, a five time NBA champion and current TNT color commentator, would be an obvious choice for the vacant head coaching job. He's admitted to having interest in coaching -- while expressing he doesn't want to be in a front office role.

It remains to be seen who becomes head coach and who's on board to fill out the entire coaching staff -- but one thing is for certain, the Phil Jackson rebuilding the New York Knicks era has officially begun.