Kevin Walters has paid the ultimate price after a brutal review into Brisbane's stunning fall from grand finalists to NRL also-rans in less than a year.
The Broncos confirmed on Thursday they had parted ways with club great Walters, who was 20 minutes away from a premiership last season but is now jobless after the side spluttered to 12th in 2024.
The Broncos' slide - they led Penrith 24-8 after 56 minutes of last year's decider, only to lose 26-24 - prompted an external review led by former Chiefs Super Rugby supremo Michael Collins.
His deep-dive led to Thursday night's shock announcement, a club statement saying the five-time premiership-winning player and former captain would "step down" after four years in the role.
"Aside from playing here, it's been the greatest thrill and honour of my life to have coached the Broncos," Walters, who will front a press conference at Red Hill on Friday morning, said in a statement.
"Coaching in the NRL takes a toll, not just on the coach but also their family.
"It's time for me to step away and spend some quality time with my loved ones, who have supported me all the way over the last four years.
"I'm grateful to the club for providing me with the opportunity to be head coach, and we have come a long way from the wooden spoon to last year's run to the grand final.
"I wish the team and the club all the best."
Walters took over with the Broncos at their lowest ebb, after a disastrous 2020 season that ended with a historic wooden spoon.
They rebounded to be in the top four midway through 2022, before an end-of-season capitulation left them out of the finals.
Brisbane then reached their first grand final in eight years under Walters last year, and had one hand on the trophy before Nathan Cleary's heroics for the Panthers.
Injuries and a mid-season form slump then killed off their 2024 campaign, leaving them 12th on the ladder and one of the great disappointments of the season.
"We owe a debt of gratitude to Kevin, for the enormous role he's played as head coach over the past four years," CEO Dave Donaghy said.
"Kevin put his heart and soul into the club during his time as coach.
"He is one of the most passionate people you will ever meet when it comes to the Broncos, and that helped lift us out of a really difficult time.
"While we will miss Kev and his infectious personality on a daily basis, we certainly don't want one of the Broncos' favourite sons not to stay involved with our great club."
Walters coached 99 games at the Broncos, winning 50 matches in total.
He had recruited Trent Barrett and Ben Te'o to Brisbane as assistants for next season.
Queensland State of Origin assistant Josh Hannay, who has served as an interim NRL head coach on multiple occasions, is one contender to replace Walters after missing out on the Parramatta job to Jason Ryles.
NSW State of Origin coach Michael Maguire, an NRL premiership winner with current Brisbane halfback Adam Reynolds and Te'o at Souths, is also a proven option.
Former dual-code star Brad Thorn, who played for the Broncos and coached the Queensland Reds until last season, is a left-field chance.
