David Moyes has decided to leave Sunderland, resigning his position as a manager, following their relegation from the PL.
Moyes oversaw a season that saw Sunderland finish bottom of the league, with just six wins from 38 games.
The former Everton, Manchester United and Real Sociedad manager announced his decision on Monday.
Speaking about the decision, chairman Ellis Short said: “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.
“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.”
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.”