The Jets have gone 61-66-13 in two seasons under Noel, who had one year to go on the contract signed when general manager Kevin Cheveldayoff picked him as the first head coach of these Winnipeg Jets.
Noel guided the Jets to a 37-35-10 record in 2011-12, the team's first season in Winnipeg after relocating from Atlanta. Last season, he led the Jets ot a 24-21-3 mark and ninth-place finish in the NHL's Eastern Conference, four points behind the New York Islanders for the eighth and final playoff berth.
Noel, 57, succeeded Craig Ramsay as head coach after the club's move.
Noel's only previous NHL head coaching experience was a 24-game stint as interim coach with Columbus in 2009-10. He went 10-8-6 in that span but the Blue Jackets didn't renew Noel's contract at the end of the season.
Over his 20-year carere, Noel has also spent several years as the man in charge for clubs in the American, International and East Coast leagues.