Cambridge United has confirmed that manager Richard Money will be leaving the club after what it calls "the disappointing pattern of results over the last nine months".
In a statement the club thanks Money for his work there, but says the squad isn't currently achieving its potential. The Assistant Manager Joe Dunne will be taking training this week.
"The Club has taken this difficult decision due to the disappointing pattern of results over the last nine months and because the current squad is not showing consistent signs of achieving its potential. We want to place on record our sincere thanks to Richard, who has been instrumental in the club's progress over the last three years.
He led the team to success in the FA Trophy, promotion back to the Football League and a memorable run in the FA Cup last season which culminated in two games against Manchester United. Richard has achieved a special place in the history of Cambridge United Football Club and will always be warmly welcomed at the Abbey Stadium.
Assistant Manager, Joe Dunne, assisted by the other first team coaching staff, will take training this week as the team prepares for our FA Cup tie against Basingstoke at the Abbey Stadium on Saturday."
Cambridge United Chief Executive Jez George says that the current squad were "underperforming" under former manager Richard Money.
Richard Money's three-year spell in charge of Cambridge United came to an end on Monday, but where did it all go wrong?
CUFC's decision to sack Richard Money came as a shock to fans. But in October he admitted he was going through his toughest spell in charge.