Derek Llambias resigns as managing director of Newcastle following appointment of Joe Kinnear
Llambias polarised opinions of the club's fans during his time at St James' Park
Derek Llambias, Newcastle's managing director, has resigned from his position with immediate effect.
The shock announcement follows yesterday's appointment of Joe Kinnear as the club's director of football.
Kinnear had said in his talkSPORT interview on Monday night that Llambias had already resigned and that he would concentrate solely on the finance side of the club. That allegation was emphatically denied by the club, but this morning Llambias told the owner Mike Ashley that he would be leaving.
Llambias had been Ashley's right hand man inside St James' Park before the controversial of introduction of Kinnear.
"I have had an incredible journey during my five years at the club, including some challenging times," said Llambias. "I will reflect with great fondness on my time in the North East and, in me, Newcastle United have a lifelong supporter.
"I want to thank the staff for their hard work, our fans for their support of the club, and wish them all well for the future."
Llambias, who used to be in charge of the exclusive Fifty Club casino in London, moved to St James' Park in 2008 to take over the day to day running of the club.
He was influential in introducing a new business model at the club, one which refused to buy ageing players with no add on fees and along with Ashley, Llambias set about trimming the wage bill that the new owner had inherited when he bought the club. More emphasis was put on self sufficiency.
There were controversies; the renaming of St James' Park, the Wonga deal and the sacking of Chris Hughton less than six months after promotion from the Championship as champions.
There were also key sales under Llambias with Kevin Nolan, Joey Barton and Andy Carroll all departing during his watch. Finishing fifth in the 2011-2012 season was cited as justification for the controversial methods put into place by Ashley and Llambias.
But last season was a struggle, despite a run to the quarter-final of the Europa League ,and the appointment of Kinnear has created a new bout of controversy.
His departure leaves a gap in the financial operation of the club, an area Kinnear has so far expressed no desire to take over.
Latest in Sport
Pornhub: Cheeky Liverpool fan uploads Philippe Coutinho wonder-goal video to adult website
Diego Costa keeps coin thrown at him during Capital One Cup final
Lukas Podolski corner: Has the Arsenal forward taken the worst corner of all time?
Ireland 19 England 9 player ratings: Jonathan Sexton? Devin Toner? Alex Goode? Who was the star man in Dublin?
Eden Hazard didn't like the champagne on offer in the Chelsea dressing room
- 1 Bill Clinton portrait features Monica Lewinsky reference, artist admits
- 2 What happens to your body when you give up sugar?
- 3 Delhi bus rapist blames dead victim for attack because 'girls are responsible for rape'
- 4 Have sex with your iPad thanks to the new sex toy no-one asked for
- 5 Average penis size revealed: Scientists attempt to find what is 'normal' to reassure concerned men
New theory could prove how life began and disprove God
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
This is what it's like to be dead, according to a guy who died for a bit
Durham Free School: 'Creationism taught at' free school facing closure
Ukip would cut billions from Scottish budget to fund English tax cuts
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut