Peter Reid has been sacked as Plymouth Argyle manager after the financially stricken club’s poor start to the season.
The League Two outfit who remain in administration and are on the lookout for a new buyer, have picked up just one point from nine games so far this season.
Reid took charge at Home Park last year, but the club were plunged into administration soon after, docked 10 points as a result and ultimately relegated from League One.
Peter Ridsdale, the clubs acting chairman, was keen to acknowledge the efforts of the former Manchester City and Sunderland boss, but felt that a change of direction was the only solution given their dismal results this season.
In a statement released on the club’s official website, the former Leeds Chairman said “Peter joined Argyle as manager at the beginning of the 2010-11 season and inherited an unsustainable wage bill and a club that with the benefit of hindsight was in financial meltdown,”
“During the last 15 months, Peter has been the ultimate professional and has gone about his duties without complaining and has had to cope with more in a short period of time than most managers have to put up with in a whole career.
“Ultimately however, whatever the challenges, football is a results business and, today, Argyle sit bottom of the Football League with only one point out of 27.
“It is crucial that we give ourselves time to attempt to preserve Football League status and therefore it is felt that a change of manager now is the only option.
“Peter leaves with our unreserved thanks for his contribution in helping keep the club alive during this turbulent period and he leaves with our very best wishes for the future.”