Allardyce parts company with Magpies

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The 53-year-old, who carried out his pre-match press conference for Saturday's Barclays Premier League trip to Manchester United on Wednesday afternoon, left St James' Park by mutual consent.

A statement from chairman Chris Mort released on the club website, said: "(Club owner) Mike (Ashley) and I would like to place on record our thanks for Sam's efforts and wish him well for the future."

The statement continued: "A new manager has not yet been appointed at Newcastle United. We will make a further announcement on the managerial position when appropriate."

Allardyce added: "I am disappointed to be leaving Newcastle United, but I wish the club all the best for the remainder of the season and for the future."

News of Allardyce's departure came just days after he received assurances from Ashley and Mort that his job was safe after a difficult first half of the season.

Allardyce arrived at St James' Park on a three-year contract in May last year and set about formulating a long-term plan - which he forecast would take between three and five years to complete.

Crucially, however, he had been appointed by Freddy Shepherd, the long-standing chairman whose own reign was to draw to a close after Ashley completed a £134.4million takeover.

Allardyce was told to get on with his job and was allowed to sign nine players during the summer, although a total investment of around £26million was offset by sales which reduced the net figure to around £10million.

However, a run of just eight victories and six draws in 24 games proved too little return for the club's new hierarchy, and the Magpies are now looking for their eighth manager in 11 years. First-team coach Nigel Pearson will take charge for Saturday's daunting trip to Manchester United.