Sources told ESPN's Adrian Wojnarowski that Snyder had two years left on his contract.

After spending eight seasons with the team, Quin Snyder has announced that he will resign as the head coach of the Utah Jazz. The franchise apparently tried to convince Snyder to stay, even offering a contract extension.

Sources told ESPN that Snyder stated it was his time to step away from the team, even though he had two years left with the team. Snyder, if he decides to return to coaching would be a highly sought-after candidate.

Snyder said in a statement that he was "grateful" for his time with the Utah Jazz, but believes this decision is the best for the players. 

Snyder said: "At the core, and what drives me every day is our players and their passion for the game, their desire to constantly work to improve and their dedication to the team and the Jazz."

He continued: "I strongly feel they need a new voice to continue to evolve. That's it. No philosophical differences, no other reason. After eight years, I just feel it is time to move onward. I needed to take time to detach after the season and make sure this was the right decision."

Through eight seasons with the Utah Jazz, Snyder had a 372-264 record. However, the team never achieved the heights that many thought they were capable of. 

Still, Snyder has the accolade of his 372 wins being the second-most by a head coach in Jazz history. He follows behind Jerry Sloan who had 1,127 victories with the franchise. The Jazz has announced that the search will begin immediately.

Owner Ryan Smith had this to say about Snyder: "Quin Snyder has embodied what Jazz basketball is for the last eight years. The tireless work ethic and attention to detail Quin displayed each day is a testament to the professional he is. I have nothing but admiration for Quin and respect his decision."

The Jazz has the longest active postseason streak at six years, but they've yet to get past the conference semifinals.