Leeds have confirmed manager David O'Leary has been sacked - having earlier claimed his sudden departure on Thursday afternoon was by mutual consent.

O'Leary had been in charge at Elland Road for nearly four years, and had spent almost �100m trying to transform the team.

But after failing to secure silverware or a Champions League place this season, he needed to sell his prized assets to balance the books.

The Irishman also had several off-the-field factors to contend with, including the trial of Lee Bowyer and Jonathan Woodgate.

But despite the increasing pressure on him, the news of his departure still comes as a massive shock to both Leeds supporters, and football fans in general.

"After four successful years, the pressures of some of the off-field incidents have resulted in both the company and Mr O'Leary agreeing that it would be of mutual benefit for a change of manager," chairman Peter Ridsdale explained.

"Leeds United would like to place on record its thanks for David's enormous contribution over the last four years.

"It is hoped that an announcement regarding a successor can be announced in the next few weeks."

Those possible successors include Celtic manager Martin O'Neill who has taken over from Republic of Ireland boss Mick McCarthy as early favourite.

O'Neill's odds were slashed from 4/1 to even-money favourite with bookmakers William Hill after the firm took �25 different bets of �100 or more on him.