Former Manchester United manager David Moyes will receive a settlement of £4.5m from Red Devils chief following his abrupt dismissal as boss earlier today, according to The Times.
Moyes learned his fate ahead of arriving at United's Carrington training ground at 5.20am, with the Glazer family deciding to act following a 2-0 defeat to Everton last Sunday which mathematically confirmed the club cannot qualify for next season's Champions League.
The Scot only signed a six-year deal to take the reigns at Old Trafford last summer, but under the terms of his contract is only entitled to 12 months' severance pay for his efforts as manager.
United chief executive Ed Woodward put a clause in that deal which allows for a reduced £4.5m severance package without a top-four finish, a target Moyes failed to achieve during a season from hell in charge of the defending Premier League champions.
Moyes stayed at Carrington until late this morning to thank players and staff for their efforts during his time in charge, but will walk away from the club with an inflated bank balance to ease the pain of his failure to succeed as Sir Alex Ferguson's successor.