Steve McClaren has been sacked as manager of Queens Park Rangers after his side were beaten 2-1 by lowly Bolton Wanderers on Saturday.
The 57-year-old joined the club in May last year, but Rangers currently find themselves 17th in the Championship standings. Defeat against Bolton leaves them just eight points ahead of the relegation zone with seven games remaining.
“Making a decision such as this is never easy, particularly when you are talking about someone as professional and dedicated as Steve," Hoos began.
“We are grateful to him for all his efforts during his time with us. It is well documented that we are in a period of transition as we work hard to make the club financially stable. With that comes challenges, not least the cutting of the wage bill while aiming to remain competitive.
“As we look to the future, and taking recent results into account, we feel now is the right time to re-evaluate where we are.”
Director of Football, Les Ferdinand added: “Steve has worked incredibly hard during his time with us but as we start to make plans for next year we feel this change is necessary now, rather than wait until the end of the season, or risk having to make such a decision early in the new campaign.”
QPR began 2019 eighth in the league standings, but a run of just one win in 14 games has seen them fall down the table. The shock 1-0 win over high-flying Leeds United has been the only high point of an otherwise abysmal few months, with the club now feeling they have no choice but to replace him.