Newcastle United have finally sacked manager Steve Bruce in the aftermath of becoming one of the richest football clubs in the world.
A statement from the Magpies on Wednesday confirmed his departure, with the club claiming the decision had been made by "mutual consent" - despite Bruce previously remarking his desire to stay at the club under their new owners, the Saudi government's Public Investment Fund.
"Newcastle United can confirm that Steve Bruce has left his position as head coach by mutual consent," read a statement.
"He leaves the Magpies after more than two years in charge, having steered the club to 13th and 12th-place finishes in the Premier League and reaching the quarter-final stage in both the Emirates FA Cup and Carabao Cup during his tenure.
"Newcastle United would like to place on record its gratitude to Steve for his contribution and wishes him well for the future."
Graeme Jones will lead the team on an interim basis, starting with Saturday's trip to Crystal Palace.
Bruce said: "I am grateful to everyone connected with Newcastle United for the opportunity to manage this unique football club.
"I would like to thank my coaching team, the players and the support staff in particular for all their hard work. There have been highs and lows, but they have given everything even in difficult moments and should be proud of their efforts.
"This is a club with incredible support, and I hope the new owners can take it forward to where we all want it to be. I wish everyone the very best of luck for the rest of this season and beyond."
PIF completed their £305m purchase of the Magpies from Mike Ashley earlier this month, with Bruce's position in charge immediately placed under threat.
He did remain in charge until Sunday's home match with Tottenham Hotspur - his 1,000th game as a manager - but after the 3-2 defeat he has now been removed from his position.
Bruce is set to receive a huge payoff following the termination of his deal, with the likes of Lucien Favre, Antonio Conte, Roberto Martinez and Steven Gerrard all being linked as potential replacements as well as ex-Bournemouth boss Eddie Howe.
Bruce 60, had been in charge at St James' Park since July 2019, but his style of football was often criticised by fans who saw the club as unambitious under Ashley.
Under Bruce, who supported the club as a boy, Newcastle finished 13th in the 2019-20 season and then 12th in 2020-21, but a lack of attacking football often disappointed supporters.
The Magpies scored just 38 goals in their 38 league games in 2019-20, and won just 23 of the 76 matches Bruce oversaw during his two full seasons.
The club have not yet registered a win the Premier League this season, drawing three of their eight league matches and losing the other five.
Bruce started his managerial career with Sheffield United in 1998.
The former Manchester United defender has also taken charge of Huddersfield Town, Wigan Athletic (in two spells), Crystal Palace, Birmingham, Sunderland, Hull City, Aston Villa and Sheffield Wednesday,
The removal of Bruce was always likely in the aftermath of the takeover, with the experienced boss admitting as much just hours after it had gone through.
He immediately told the Daily Telegraph : ""I want to continue, I’d like the chance to show the new owners what I can do, but you have to be realistic and they may well want a new manager to launch things for them.
"New owners normally want a new manager. I’ve been around long enough to understand that.
"That decision is not up to me. I accept that and I will accept what comes my way.
"I have to wait to have those conversations with people when the time is right."
Businesswoman Amanda Staveley, who now owns 10 per cent of the club, had said that the new owners would take their time before deciding on Bruce's future.
"I did speak to the manager, said hello and introduced ourselves,” Staveley told Sky Sports after the takeover had gone through. “We look forward to speaking to him over the next few days.
"There's an international break now, everyone is just relieved at getting some rest before the Tottenham game.
"We're very supportive of Steve, we've spoken to him and what we won't do is talk about him or players, we're going to do a review of football operations, commercial side of the club, we'll come back and make some decisions."
