Sam Allardyce has sensationally quit as England boss just 67 days and one match after being appointed to the £3m a year post.
This follows an investigation by The Daily Telegraph which revealed he used his position to negotiate a £400,000 deal and give advice to businessmen on how to get around Football Association rules on player transfers.
FA chairman Greg Clarke and chief executive Martin Glenn held an emergency meeting with Allardyce at Wembley Stadium today during which, it is believed, the 61-year-old offered to stop down rather than be sacked, and in doing so became the shortest serving England manager.
In a statement, the FA said: "Allardyce's conduct, as reported today, was inappropriate of the England manager.
"He accepts he made a significant error of judgement and has apologised. However, due to the serious nature of his actions, The FA and Allardyce have mutually agreed to terminate his contract with immediate effect."
A statement from Sam Allardyce added: "Further to recent events, the FA and I have mutually agreed to part company.
"It was a great honour for me to be appointed back in July and I am deeply disappointed at this outcome.
"This afternoon, I met with Greg Clarke and Martin Glenn and offered a sincere and wholehearted apology for my actions.
"Although it was made clear during the recorded conversations that any proposed arrangements would need the FA's full approval, I recognise I made some comments which have caused embarrassment.
"As part of today's meeting, I was asked to clarify what I said and the context in which the conversations took place. I have co-operated fully in this regard.
"I also regret my comments with regard to other individuals."