George Karl was awarded NBA Coach of the Year for the 2012-2013. He had coached the Denver Nuggets for 9 year. Going into his final season of his contract, Karl told owners of the Nuggets that he wanted an extension, and unfortunately for Karl, the owners declined, and ultimately fired the coach.
The Nuggets were a 3rd seed in the NBA Playoffs this year, but got eliminated in the first round by the Golden State Warriors.
Never have I heard of a NBA Coach of the Year getting fired, however with that kind of resume, I am sure some other team in the NBA will pick up George Karl ASAP.