Money talks and says: I quit Walsall

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Money, who took charge in May 2006, hinted last week he may quit if he did not receive 'assurances' from the Saddlers' board.

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No assurances: Richard Money quit Walsall

Money was known to be frustrated following the sale of the club's two best players - Scott Dann and Dan Fox - to Coventry in January.

Walsall have struggled with injuries and a threadbare squad at a time when they needed strength in depth to maintain their play-off challenge, which ended with Saturday's 3-1 home defeat by relegation-threatened Bournemouth.

In a statement, Saddlers chairman Jeff Bonser said: "Richard came to the club at a very difficult time, when we had just been relegated to League Two and our playing fortunes were at a low ebb.

"During these past two years, through a great deal of hard work, he has led the club to the League Two championship and to a position just outside the League One play-off positions - a very impressive achievement.

"We would like to place on record our appreciation for the work that Richard has undertaken for the club, and to wish him well for the future."

Assistant manager Jimmy Mullen will take charge of the club's remaining two matches this season against Huddersfield and Hartlepool.