David Moyes has resigned as manager of Sunderland just one day after the end of the Premier League season.
The former Everton boss admitted as early as August that keeping the Black Cats in the Premier League was going to be a tough ask, and given the club's dire form during the season, it got to the point where we were all just wondering when Sunderland's relegation was going to be confirmed.
Moyes had recently indicated that that he was going to remain at the Stadium of Light but today announced his resignation and issued a statement, which read:
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"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".
Image: PA
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Sunderland owner Ellis Short then released a statement to the club's official website and revealed that Moyes had opted to depart without any compensation.
"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." he said.
As a result of Moyes' departure, Sunderland are now looking for their right manager since Martin O'Neill left the club back in March 2013.
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In terms of the potential replacements for next season's campaign in the Championship, Manchester United legend Ryan Giggs, who incidentally took over as interim manager at United when Moyes was sacked by United at the back-end of the 2013/14 season, is the favourite with the bookies.
Image: PA
Ladbrokes make Giggs, who is also said to be on Middlesbrough's managerial shortlist, 9/2 to take over and attempt to guide Sunderland back into the Premier League at the first time of asking.
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You can get 5/1 on former Newcastle United boss Alan Pardew getting the job, while, Nigel Pearson, who is looking to get back into management, and Leeds United boss Garry Monk are both in at 8/1.
Do you think Giggs would be a good fit for Sunderland or do they need someone experienced to get them back into the top flight?
Let us know your thoughts in the comments.
Featured Image Credit: PATopics: Football, Sunderland, Manchester United, Ryan Giggs, David Moyes