Stockport have made manager Jim Gannon redundant as they bid to deal with their current financial problems.
The Edgeley Park club called in the administrators last Thursday and incurred a 10-point deduction as a result, but managed to survive in League One as they had already accrued enough points to stay up.
But with administrators Leonard Curtis looking to reduce the wage bill, the highly-rated Gannon has become the first casualty of their recovery plans for the club.
The move comes as a shock considering the 40-year-old, who took the reins in December 2005, guided Stockport to promotion last season and turned down the opportunity to join Brighton earlier this year.
Gannon, who made over 400 appearances for Stockport as a player, refused to speak to the media over the latter part of the season as a statement of his displeasure over the way the club was being run.
A statement from the administrators read: "It is regrettable that due to funding constraints during the administration period it has been necessary to make a number of redundancies.
"Following the conclusion of the playing season, the number of coaching staff has been reduced and regrettably cuts include the manager, Jim Gannon.
"It is hoped that these cost reductions will enable us to preserve the club in the short term and secure a buyer in the near future."
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