Kenny Dalglish was sacked as manager of the Liverpool Football Club last night in a dramatic move by the club's owners following a disappointing Premier League campaign.
The 61-year-old, who had returned for a second stint as manager at Anfield in January last year, paid the price for a dismal season which saw Liverpool finish 37 points behind champions Manchester City.
The Merseyside club's American owners the Fenway Sports Group had given Dalglish more than 100 million Pound(159 million dollars) to spend in the transfer market since he took over from the sacked Roy Hodgson in 2011.
But expensive signings such as Andy Carroll, Stewart Downing, Jordan Henderson and Charlie Adam have largely flopped, with Liverpool's eighth place finish their worst season-ending position for nearly two decades.
"Fenway Sports Group and Liverpool Football Club announce that Kenny Dalglish is to leave his post today as manager after having his contract terminated," a joint statement said.
"After a careful and deliberative review of the season the club came to the decision that a change was appropriate.
"It is not a decision that was reached lightly or hastily.
"The search for a new manager will begin immediately." Dalglish said in a statement he was "honoured and privileged" to have been given the opportunity to manage the club for a second time.
"I greatly appreciate the work that Steve (Clarke), Kevin (Keen), the players and all of the staff put in during my time and feel proud that we delivered the club's first trophy in six years, winning the (League) Cup, and came close to a second trophy in the FA Cup final," he said.
"Of course I am disappointed with results in the league but I would not have swapped the League Cup win for anything as I know how much it meant to our fans and the club to be back winning trophies.
"I said when first approached about coming back as manager that I would always be of help if I can at any time and that offer remains the same.
"Finally, I want to put on record my heartfelt gratitude to Liverpool's fans, who have always given me and the club their unwavering support.
"Without them neither the club nor I would have achieved anything."
The 61-year-old, who had returned for a second stint as manager at Anfield in January last year, paid the price for a dismal season which saw Liverpool finish 37 points behind champions Manchester City.
The Merseyside club's American owners the Fenway Sports Group had given Dalglish more than 100 million Pound(159 million dollars) to spend in the transfer market since he took over from the sacked Roy Hodgson in 2011.
But expensive signings such as Andy Carroll, Stewart Downing, Jordan Henderson and Charlie Adam have largely flopped, with Liverpool's eighth place finish their worst season-ending position for nearly two decades.
"Fenway Sports Group and Liverpool Football Club announce that Kenny Dalglish is to leave his post today as manager after having his contract terminated," a joint statement said.
"After a careful and deliberative review of the season the club came to the decision that a change was appropriate.
"It is not a decision that was reached lightly or hastily.
"The search for a new manager will begin immediately." Dalglish said in a statement he was "honoured and privileged" to have been given the opportunity to manage the club for a second time.
"I greatly appreciate the work that Steve (Clarke), Kevin (Keen), the players and all of the staff put in during my time and feel proud that we delivered the club's first trophy in six years, winning the (League) Cup, and came close to a second trophy in the FA Cup final," he said.
"Of course I am disappointed with results in the league but I would not have swapped the League Cup win for anything as I know how much it meant to our fans and the club to be back winning trophies.
"I said when first approached about coming back as manager that I would always be of help if I can at any time and that offer remains the same.
"Finally, I want to put on record my heartfelt gratitude to Liverpool's fans, who have always given me and the club their unwavering support.
"Without them neither the club nor I would have achieved anything."
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