Canadian BB coach resigns, team out of running for Olympics

Canadian men's basketball coach 89 loss to Panama at the FIBA Olympic Americas tournament.

The squad finished the tournament with a 3-5 record, and because they failed to finish in the top five, they didn't reach a second-chance qualifying tournament next summer ahead of the London Games.

Rautins took the head coaching position in 2005, and was given a two-year contract extension last October. He still wants to remain with the team.