The resignations of Manchester City chairman David Bernstein and managing director Chris Bird have 'reluctantly' been accepted by the Maine Road board.
The decision was taken 90 minutes into an emergency board meeting which had originally been called to discuss Bird's intention to quit but was given an added dimension when Bernstein made his shock announcement this morning.
Bernstein will leave the club immediately while Bird, who is supposed to serve a 12-month notice period, will be allowed to depart once a suitable date has been agreed.
A club statement read: "These resignations have neither been sought nor welcomed by the board. However, faced with the unequivocal determination of both directors to resign, the remaining directors had no choice but to accept this position, despite a concerted effort over many days to seek to preserve the board's structure.
"The board and major shareholders remain unified and committed to continue the development of the club, which they have all been part of through the last five years.
"Together with the manager they intend to continue with existing policies for the benefit of our dedicated and loyal supporters.
"The board and major shareholders would like to express their appreciation and gratitude to both David Bernstein and Chris Bird for their hard work, dedication and leadership over the last five years which has brought major benefits to the club."
PA