Sunderland chairman Ellis Short has revealed his disappointment after David Moyes decided to resign from his role as manager.
After the club's relegation from the Premier League, Moyes has opted to walk away from his position in the dugout after winning just eight of his 43 matches in charge.
However, despite facing up to life in the Championship, Short has indicated that he wanted Moyes to remain at the club, as well as saying that the Scot insisted on not receiving any compensation after bringing an end to his contract.
He told the club's official website: "I pursued the services of David Moyes for a considerable period prior to his appointment last summer, which makes the announcement of his departure difficult for everyone concerned.
"Having worked tirelessly throughout the campaign to avoid relegation from the Premier League, David has chosen to leave the club without compensation, which is testament to his character.
"In the days ahead we will take some time for reflection, and then focus on recruitment and pre-season as we prepare for our Championship campaign. We wish David well in the future."
Sunderland ended their season with a 5-1 defeat away at champions Chelsea.