Thanks but no thanks Craig

Full statement from Leicester City regarding departure of City manager Craig Levein:

Leicester City today announced that Craig Levein, Peter Houston and Kenny Black will be leaving the club with immediate effect.

Tim Davies said: 'It is with huge disappointment that we have to announce the departure of Craig, Peter and Kenny. I would like to thank them for the work they have done for the club since their arrival in November 2004. At that time we set out on a long term strategy for the club to:

*Players on longer term contracts, living locally who want to do well for the club

*Development of younger players through the Academy system

*Reduction of the average age of playing squad

*Sustainable off-field business development to support the club

*Financial prudence - living within our means

Much of this has been achieved. However our league position is unacceptable and we need to make a change. We have had great support from our fans and all of us have one common goal, to avoid relegation and we see this as the way forward to do this.'

In the short term Rob Kelly will be taking over as caretaker manager and goalkeeping coach Mike Stowell will be assisting him.

Craig Levein afterwards declared himself 'disappointed' with the decision.