A statement from chairman Chris Mort released on the club website, www.nufc.co.uk, 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.

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"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."

Allardyce completed his pre-match press conference ahead of the Manchester United game this morning, and he was in the stands to see Newcastle's second string slump to a 3-1 defeat at home to Sunderland on Tuesday night.

Chairman Chris Mort and former Newcastle boss Bobby Robson were also among the 971 watching fans at Kingston Park.

Former Bolton boss Allardyce succeeded Glenn Roeder in the Newcastle hotseat, but his reign lasted less than eight months.

All eyes will now be on Alan Shearer. The Newcastle legend has been repeatedly linked with Allardyce's job, who is currently out of the country on holiday.

The list of Allardyce's potential replacements will no doubt also include Jose Mourinho, though the former Chelsea boss could have plenty of options if he waits until the end of the season for his return to management.

What do you think? Should Newcastle have stuck with Sam Allardyce, or was it time for hism to go? Use the comment box below to have your say...