ENGLEWOOD, Colo. (AP) — The Denver Broncos fired first-year head coach Nathaniel Hackett on Monday with two games left in the season.

Owner and CEO Greg Penner said he'll lead the search for a new coach with assistance from GM George Paton, in whom he expressed confidence while announcing Hackett's dismissal.

Firing Hackett with two games left in a lost season allows Penner to begin his search for a replacement immediately.

The Broncos scheduled a news conference for Tuesday, when they're expected to name their interim head coach for games at Kansas City next weekend and at home against the Chargers in Week 18.

The Walton-Penner group purchased the Broncos for $4.65 billion last summer, a global record for a professional sports franchise, and Rob Walton said after the league's approval that he aimed to make the Broncos perennial championship contenders again.

On Sunday, the Broncos (4-11) were blown out by the equally downtrodden Los Angeles Rams 51-14 when Russell Wilson threw three interceptions and was sacked six times. The game featured a sideline spat between backup QB Brett Rypien and guard Dalton Risner, and pass rusher Randy Gregory threw a punch at a Rams player after the game.

In a statement Monday, Penner thanked Hackett for his dedication but said that "following extensive conversations with George and our ownership group, we determined a new direction would ultimately be in the best interest of the Broncos. This change was made now out of respect for everyone involved and allows us to immediately begin the search for a new head coach."