Collins quits Hibs

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The former Scotland midfielder was appointed on October 31, 2006, and led Hibs to their CIS Insurance Cup victory in March.

He has seen a host of key players leave the club for big money during his spell in charge at Hibernian, including Scott Brown, Kevin Thomson, Steven Whittaker and Chris Killen.

Despite having to rebuild his squad on a small budget, Hibernian started this season strongly and are currently fifth in the Clydesdale Bank Premier League.

Collins, 39, has been linked with the Scotland job which became vacant when Alex McLeish quit to join Birmingham last month. However a Scottish Football Association spokesman stressed his resignation from Hibernian was entirely unconnected to the national team post.

Only on Wednesday, Collins joined chairman Rod Petrie and and club owner Sir Tom Farmer at the opening of Hibernian's new £4.9million training complex.

He stressed at the time that his contract, which was due to run until the end of next season, meant any talk of him becoming Scotland manager was pure speculation. Regarding that job and Collins' resignation, the SFA spokesman stressed: "There is absolutely no connection."

Collins revealed he quit because he felt he had achieved all he could for Hibernian, and it was the limit put on his spending on new players which appears to have prompted his shock departure. He said: "I feel I leave with the CIS Cup in the trophy cabinet, a fine set of young players, a great new training ground.

"During my time as manager we have brought in over £8.8million and paid out £360,000 in compensation [on new players]. My reasons for resigning are I feel I have taken the club under the current resources available as far as I can."