LOS ANGELES: Jerry Colangelo will step down as chairman of USA Basketball, completing an eight year tenure at the top of the association, USA Basketball announced on Thursday.

Colangelo says he is giving up the chairmanship he has had since 2009 so he can concentrate on his role as managing director of the national men’s basketball team.

“I look forward to working with the next chairman to ensure that we continue to honor and build on USA Basketball’s rich tradition,” he said.

In August, the United States won its third consecutive men’s Olympic gold medal since Colangelo took control.

The Rio Games marked the end of Mike Krzyzewski’s time as the national team head coach. Colangelo is overseeing the transition of the head coaching job from Krzyzewski to five-time NBA champion Gregg Popovich of the NBA’s San Antonio Spurs.

“Given the coaching change and the challenge of assembling a group of players for FIBA’s new competition schedule, this is a good time to devote my full attention to the men’s national team,” said Colangelo.

“As chairman of USA Basketball, I’m proud of what our teams at all levels have accomplished and how our players have embraced the responsibility of representing their country.”