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Gianfranco Zola made the decision to resign as manager of Watford on Monday "in the best interests of the team".
He leaves the Championship club on a run of nine League games without a win and 13th in the table, eight points short of the play-off zone. It represents a major disappointment to both directors and their former manager after last season's play off final defeat to Crystal Palace.
Saturday's 1-0 home defeat against struggling Sheffield Wednesday – Watford's fifth straight reverse at Vicarage Road – appears to have been a tipping point, with Zola explaining his reasoning to supporters via an open letter posted on Watford's official website.
"First of all, this decision has not been made quickly. I mentioned after the game on Saturday that I wanted to think about things overnight and that is exactly what I have done," said the 47-year-old former Italy international. "I must place Watford Football Club first in my thoughts and it is for this reason that I have taken my action.
"I feel that it is in the best interests of the team that somebody new is given the chance to bring the success which we have all hoped for and worked very hard for. It is for a variety of reasons, and not just over one matter or one moment, that I feel this is the right decision for me, in the best interests of the club – and I know I can trust you, the supporters, to respect my decision fully."
Watford's board issued a statement saying that it was with "great sadness" and "full respect" that they accepted Zola's resignation and spoke of their "sincere gratitude" for his achievements at Vicarage Road.The former Napoli and Chelsea creator had brought a touch of glamour to Hertfordshire after being recruited by Watford's new Italian owners, the Pozzo family, during the summer of 2012.
His previous managerial experience – a two-year stint in charge of West Ham United between 2008 and 2010 before being replaced by Avram Grant – had been less distinguished but Vicarage Road regulars remained optimistic Zola was the man to lead Watford back into the Premier League.
After spending much of last season appearing poised for automatic promotion they eventually finished third, beat Leicester in the play-off semi-final and then stumbled against Palace at Wembley. "Last season was such an amazing time, for the players, the staff and the supporters," wrote Zola in his open letter to fans. "And I loved that journey. Every minute of it brought a new challenge, different experiences and a lot of learning. I have had supporters tell me that the Leicester game in May was the most amazing moment in their time supporting their club.
"I will always remember having been welcomed so warmly to this wonderful football club, to have been supported so fully and to have been able to share moments of excitement and joy that will always live with me.
"But this game does not wait and does not stop. There is always the next challenge and a new environment ahead which means nothing is ever the same.
For now, I want to wish the players, the staff, the fans and everyone else who has Watford Football Club at heart my best wishes for the future. It has been a privilege and a pleasure to serve this club and I am sure we will see each other again one day."
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