NEW YORK (Reuters) - Longtime Utah Jazz coach Jerry Sloan said on Thursday a drop-off in energy was behind his sudden decision to resign after 23 years with the NBA team.

The 68-year-old Hall of Fame coach, who earlier this year agreed to a one-year contract extension to remain with the team, steered the Jazz to a 31-23 record this season.

He will be replaced by assistant coach Ty Corbin, who will take over for Friday's game against the Phoenix Suns.

"Twenty-three years is a long time to be a part of one organization ... my time is up and it's time for me to move on," an emotional Sloan said at a news conference.

"You only have so much energy left and my energy level has dropped off quite a bit."

Sloan, whose first three years as an NBA coach came with the Chicago Bulls from 1979-80, had a 1,221-803 career record and is the only NBA coach to win 1,000 games with a franchise.

Miller said Sloan called a meeting with management earlier today. "All of us in the room threw everything we had at him to get him to stay," Miller said.

Said Sloan: "It's not dramatic, not a big deal. It's just time for me to move on."

Sloan said he had no interest in coaching another team.

"I'm not looking for another job," Sloan said. "My wife has a job for me when I get home."

Sloan's long, successful run with the Jazz included teams led by the great partnership of Hall of Famers Karl Malone and John Stockton.

They helped the team reach the NBA Finals in 1988 and 1989 where they fell to Michael Jordan and the Chicago Bulls.

"Everyone wants to win a world championship," Sloan said. "But I think our team laid everything they had out there when they were in that position. That's all you can ask."

(Reporting by Larry Fine; Editing by Frank Pingue)