Leo Rautins resigns as Canada coach

MAR DEL PLATA, Argentina -- Leo Rautins has stepped down as coach of the Canadian men's national basketball team after it was eliminated from qualifying for the 2012 Olympics.

Rautins announced his decision on a conference call Thursday, according to Canada Basketball. Canada lost to Panama 91-89 earlier Thursday in its final game at the FIBA Americas tournament. They had to finish in the top five of the 10-team field to keep hopes alive for qualifying for London.

Canada hasn't qualified for the Olympics since 2000.

Canada Basketball says in a statement that its team is heading in the right direction for 2016 and hopes Rautins remains involved in some capacity.

Rautins' son Andy played on the team. Both were college standouts at Syracuse.