Newcastle have sacked manager Graeme Souness and put Glenn Roeder and Alan Shearer in charge for Saturday’s match against Portsmouth.
The Magpies have won only one point in their last six Premiership matches and are currently only six points above the relegation zone.
A statement on the club’s website read: “The employment of Graeme Souness has been terminated with immediate effect.
“And an announcement will be made shortly regarding transitional arrangements pending the appointment of a new team manager.”
“Glenn Roeder will take charge of first team affairs for the immediate future following the departure of Graeme Souness.”
Former England striker Shearer has made no secret of his desire to become Newcastle manager.
Another candidate Bolton manager Sam Allardyce, who turned down the job before it was offered to Souness but has continued to be linked with the post.
The news comes just 24 hours after United went down to a 3-0 defeat at Manchester City and having seen Souness spend £47m on new players in less than 18 months in charge it appears that the board’s patience finally snapped.
Souness took charge at St James’ Park in September 2004, replacing Sir Bobby Robson who was also sacked.
Souness expressed his disappointment at being fired.
“I’m saddened at the way things have worked out,” he said.
“I have enjoyed living and working in Newcastle, and my family and I have been made to feel particularly welcome by the Geordies.
“I wish the club, the players and the supporters good fortune and success going forward,” he added.
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