During the second intermission of their game against the Red Wings on Tuesday night, the Oilers met with president of hockey operations and general manager Peter Chiarelli and told him he was sacked.
Nicholson confirmed that assistant GM Keith Gretzky will take over for Chiarelli until a new general manager is hired, while he will handle hockey operations.
"We've gone through a head coach, we've gone through a general manager now, the responsibility goes back to them in the room", Nicholson said.
For many, the acquisition of Brandon Manning was the tipping point, and a loss to the last-place Detroit Red Wings just put it over the edge.
Nicholson said the Oilers, who are three points out of the final playoff spot in the Western Conference, still believe they can make the playoffs but won't sacrifice the future to try to make quick fixes.
"It feels really good to get two points going into the break feeling good about our game", Larkin said. We have good leaders.
"He felt he let the organization down by not getting the team into the playoffs".
Many expected Chiarelli to get fired after the Oilers embarrassing loss to Carolina Sunday in which they were down 3-0 after 11 minutes and 6-1 later.
"Everybody here has to look in the mirror and ask themselves if they are doing enough and playing the right way and playing for the team", said Oilers forward Alex Chiasson. Edmonton has lost 12 of its past 16 games going into the All-Star Break.
There is no immediate replacement in line for Chiarelli, so Kevin Lowe, Craig MacTavish and Scott Howson will fill in for Chiarelli, according to ESPN. He joined the organization in 2015, two months before the Oilers won the chance to draft Connor McDavid first overall.
Chiarelli, of course, is responsible for the trade that sent Taylor Hall to the Devils for Adam Larsson in 2016.
Conventional wisdom says you don't fire a G.M.at this point of the season. The Oilers put Spooner on waivers Monday.
He also signed Milan Lucic to a seven-year, $42 million deal at the age of 28.