Sam Allardyce has confirmed that he has stepped down as Crystal Palace boss after just five months in charge and does not intend to return to management.
The 62-year-old held discussions with owner Steve Parish on Tuesday afternoon and made it clear that he had no intention of remaining at the Selhurst Park helm for another campaign.
Allardyce made a swift return to club management in December following an ill-fated spell in charge of England, which lasted just 67 days before he was forced to step aside after being caught up in an undercover newspaper sting.
After keeping the Eagles in the Premier League during his half-season at the helm, backed with nearly £30m in transfer funds during January, reports emerged earlier today suggesting that the former Sunderland boss had taken the shock decision to quit.
It has now been confirmed that Palace are on the lookout for an eighth manager in seven years, with Allardyce admitting that he was keen to go out on a high following his disastrous England spell - a job he described as a "dream" at the time.
"In some ways, this has been a very difficult decision to make but in others it has been a simple one," he said in a statement. "I will always be grateful to Crystal Palace and Steve Parish for giving me the opportunity to go out with my head held high having helped keep the club in the Premier League.
"More than that, they gave me a chance of rebuilding my reputation after what happened with England. I felt I needed another shot at being a Premier League manager and in helping to achieve something. As I said last weekend, Palace gave me the chance of rehabilitation. That's why it's hard walking away now. I think the club are heading in the right direction with a hugely supportive board of directors, a great squad of players and some of the most passionate fans I've ever met.
"It's been a privilege to have worked here for the past five months. But there comes a time when you have to take stock of what direction you want your life to take - and that's been the simple part for me. I want to be able to savour life while I'm still relatively young and when I'm still relatively healthy enough to do all the things I want to do, like travel, spend more time with my family and grandchildren without the huge pressure that comes with being a football manager."
Allardyce has spent more than a quarter-of-a-century in senior management, taking in spells with Bolton Wanderers, Newcastle United, West Ham United, Sunderland and most recently Crystal Palace.
"This is the right time for me," he added. "I have no ambitions to take another job, I simply want to be able to enjoy all the things you cannot really enjoy with the 24/7 demands of managing any football club, let alone one in the Premier League. Steve Parish has been superb during our conversations today. I know it came as a shock to him that I would walk away but our discussions have been incredibly civilised with no recriminations and no fall-out.
"This is not about transfer targets, finances or anything along those lines. This is me taking the decision I believe is right for my family and myself. I would like to thank everybody for their messages of support since the news broke. I've no doubt I will miss management but I certainly have no regrets at this decision."
Palace were one point above the relegation zone when Allardyce took over, but eight wins from his 21 games in charge ended in a respectable 14th-place finish for the South London outfit.
