David Moyes has resigned as manager of Sunderland AFC.
The Scot, who joined the club last summer following the departure of Sam Allardyce, couldn't prevent the Black Cats' relegation to the Championship this season.
In a statement this afternoon, Moyes said: "I would like to thank Ellis Short and the Board for giving me the opportunity to manage Sunderland and the fans for always being so passionately supportive of their club.
"I wish the players and my successor well in their efforts towards promotion back to the Premier League."
Sunderland endured a torrid Premier League campaign, racking up 26 defeats from their 38 games and amassing just 24 points to finish bottom of the table.
Moyes shared the news with the Sunderland board on Monday morning and leaves the club without taking compensation.
The news comes just a day after their 5-1 defeat to Premier League champion Chelsea at Stamford Bridge.
"I pursued the services of David Moyes for a considerable period prior to his appointment last summer, which makes the announcement of his departure difficult for everyone concerned, said Sunderland chairman Ellis Short.
"Having worked tirelessly throughout the campaign to avoid relegation from the Premier League, David has chosen to leave the club without compensation, which is testament to his character.
"In the days ahead we will take some time for reflection, and then focus on recruitment and pre-season as we prepare for our Championship campaign. We wish David well in the future."
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