Sunderland have confirmed that Roy Keane has left his role as manager, with the Premier League strugglers 'reluctantly accepting' his decision.
Keane's future at the Stadium of Light had been under increasing scrutiny in recent days following the team's slump in form.
He has been holding talks with chairman Niall Quinn and the rest of the board over the past couple of days and the discussions have resulted in the manager's departure.
Sunderland released a statement to confirm Keane's departure, with Quinn insisting his fellow Irishman deserves 'huge respect' for his contribution on Wearside.
Quinn told the club's official website: "First of all on behalf of everyone here I would like pay thanks to Roy Keane for all his hard work in progressing this club, lifting its status and growing its worldwide profile.
"Roy deserves huge respect for his contribution and the manner in which he guided the club from the depths of the Championship back to the Premier League. His winning mentality and singled mindedness were just what this club needed when Drumaville took over shortly before his arrival.
"Roy's decision to stand aside and allow someone else to take charge of the next chapter sums up his desire to always do what is best for the club. Even in his departure he has been more concerned for the welfare of the players and his staff than himself.
"The board has reluctantly accepted his decision and wish him and his family well for the future."
The former Republic of Ireland international took charge in August 2006 and he made an immediate impact as he guided Sunderland to the Championship title the following May.
Last season the club consolidated their place in the top flight and Keane's task this term was to make an assault on the top half of the table.
With that in mind, Sunderland backed Keane by spending nearly £30million on new players with the likes of Djibril Cisse, Pascal Chimbonda, Anton Ferdinand, El-Hadji Diouf and George McCartney all coming in.
However, despite a morale-boosting Wear-Tyne victory over rivals Newcastle - their first since 1980 - Sunderland's form and place in the league has plummeted.
Just two wins in ten league games has put them in the bottom three, and speculation has been rife in the North East over the last month that Keane was ready to walk away from the club.
He admitted last weekend after a 4-1 home defeat by Bolton Wanderers that he was questioning whether he was the right man to lead the Black Cats forward.
Former Sunderland defender, and ex-Newcastle United boss, Sam Allardyce has been installed as the early favourite to replace Keane.
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