​Championship side ​Queens Park Rangers have parted ways with manager Ian Holloway, confirming the coach made his exit on Thursday afternoon, following an 18-month spell at Loftus Road.

A statement on the club's ​official website reads: "Ian Holloway has left QPR with immediate effect."

Holloway, who had previously managed the London outfit from 2001-2006, returned to the helm in November of 2016 after stints with Plymouth Argyle, ​Leicester City, Blackpool, ​Crystal Palace and ​Millwall.

He also led the side to Second Division promotion in 2004.

Hull City v Queens Park Rangers - Sky Bet Championship

"We are hugely grateful to Ian for his incredible efforts during his time with us," chief executive Lee Hoos stated.

"He joined us at a critical stage as we looked to reduce the wage bill, bring in younger talent and remain competitive on the pitch.

​​"That is no easy task and it was down to his desire, love for the club and hard work that he achieved those goals. However, we are now looking to take the next step as we continue to work through what is a vital period of transition for the club."