Sam Allardyce has admitted that he made comments that have "caused embarrassment" as his departure as England manager was confirmed.
He was filmed appearing to tell businessmen how to get around rules on player transfer payments.
Allardyce, who was only appointed England manager in July, was caught as part of an undercover sting by newspaper The Telegraph offering advice on how to get around player transfer payments and the newspaper claims a deal was struck with the England manager worth £400,000.
Allardyce met with the Football Association on Tuesday afternoon as they considered whether to sack him, before releasing an official statement which said that the two had parted ways "by mutual consent".
In a statement, he said: "Further to recent events, The FA and I have mutually agreed to part company.
"It was a great honour for me to be appointed back in July and I am deeply disappointed at this outcome.
"This afternoon, I met with Greg Clarke and Martin Glenn and offered a sincere and wholehearted apology for my actions.
"Although it was made clear during the recorded conversations that any proposed arrangements would need The FA’s full approval, I recognise I made some comments which have caused embarrassment.
"As part of today’s meeting, I was asked to clarify what I said and the context in which the conversations took place. I have co-operated fully in this regard.
"I also regret my comments with regard to other individuals."
Allardyce only had one match in charge of England, a 1-0 over Slovakia at the start of September.
Download the brand new OffTheBall App in the Play Store & App Store right now! We've got you covered!
Subscribe to OffTheBall's YouTube channel for more videos, like us on Facebook or follow us on Twitter for the latest sporting news and content.
