Liverpool have sacked manager Brendan Rodgers following a disappointing start to the season.
The Northern Irishman's job has come under increasing pressure in recent weeks on the back of two wins in the Reds' last nine outings in all competitions.
Sunday's 1-1 draw with Everton in the Merseyside derby proved to be the 42-year-old's final game at the helm, with the club's owners announcing this evening that he will depart with immediate effect.
A joint statement released by Fenway Sports Group principal owner John W. Henry, chairman Tom Werner and president Mike Gordon said: "All of us have experienced some wonderful moments with Brendan as manager and we are confident he will enjoy a long career in the game.
"Although this has been a difficult decision, we believe it provides us with the best opportunity for success on the pitch. Ambition and winning are at the heart of what we want to bring to Liverpool and we believe this change gives us the best opportunity to deliver it.
"The search for a new manager is underway and we hope to make an appointment in a decisive and timely manner."
Rodgers was appointed as Liverpool boss in June 2012 following a successful two-year stint at Swansea City, who he led into the top flight at the first time of asking.
A second-place finish in 2013-14 proved to be the highlight of the Ulsterman's time in charge on Merseyside, with the club finishing in 7th and 6th either side of that memorable campaign.
Despite claiming after his side's draw at Goodison Park that he did not feel his job was on the line, Rodgers was shown the door just three hours after the full-time whistle sounding.
Jurgen Klopp and Carlo Ancelotti have been installed as the early favourites to take over at 10th-placed Liverpool.
