NEW YORK - The Orlando Magic sacked head coach Jacque Vaughn on Thursday after the NBA team suffered a 10-game losing streak.

Orlando Magic's head coach Jacque Vaughn directs his team against the New York Knicks at Madison Square Garden in New York, in this file photo taken January 30, 2013. The Orlando Magic have fired head coach Vaughn, the National Basketball Association team said on Thursday. [Photo/Agencies]

Assistant James Borrego was named the interim head coach. Borrego is in his third season with the Magic after two years as an assistant with New Orleans. He was also an assistant with San Antonio from 2003-10 when Vaughn played for the Spurs.

Vaughn posted a record of 58-158 since taking over the position for the 2012-13 season. The Magic finished 20-62 in Vaughn's first year and 23-59 last season.

A 12-year NBA veteran, Vaughn was named Magic head coach on July 28, 2012 after Stan Van Gundy was fired following a successful five-year tenure. The Magic reached the playoffs during each of Van Gundy's seasons.

Vaughn played for the Magic during the 2002-03 season. He spent two years as an assistant with San Antonio before earning his first head coaching job with Orlando at the age of 37 -- at the time becoming the second-youngest head coach in the NBA.