Liverpool have terminated the contract of manager Kenny Dalglish, owners Fenway Sports Group and the club have confirmed.

The announcement comes just 24 hours after the Scot returned from a meeting with principal owner John Henry and chairman Tom Werner in the United States. Dalglish paid the price for failing to close the gap on the top four with the Reds finishing eighth despite significant investment in playing staff in his 15 months in charge.

"Fenway Sports Group and Liverpool Football Club announce that Kenny Dalglish is to leave his post today as manager after having his contract terminated," said a joint statement.

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