Liverpool have sacked manager Kenny Dalglish.
The decision came after Dalglish flew to Boston to meet with Liverpool's US owner John Henry and chairman Tom Werner.
Dalglish led Liverpool to League Cup success and the FA Cup final in his second spell at Anfield. But his side finished eighth in the Premier League, 37 points behind champions Manchester City and below local rivals Everton.
The poor league finish came after Dalglish spent millions on new players last summer.
Dalglish won 35 of his 74 games in all competitions since taking over in January 2011. In that time Liverpool have drawn 17 and lost 22 matches.
Liverpool have struggled for form at home this season winning just six of their 19 league games.
Dalglish was also criticised for defending Luis Suarez after the Liverpool striker was found guilty of racially abusing Manchester United's Patrice Evra.
Swansea's Brendan Rodgers and Wigan's Roberto Martinez are the two early favourites to take over at Anfield.
Reaction to follow...