Alan Curbishley has resigned as manager of Premier League club West Ham United.
Curbishley tendered his resignation on Wednesday and it was accepted by West Ham owner Bjorgolfur Gudmundsson.
The 50-year-old had grown disillusioned at the club's transfer policy, Super Cup live - Man Utd v Zenit ...
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A statement on the club's website read: "We can confirm we have accepted Alan's resignation as it is in the best interests of both parties."
The statement added: "We wish Alan all the success in the future. A shortlist of candidates is being drawn up and an announcement will be made in due course about the new manager."
West Ham also moved to justify the summer departures of Ferdinand and McCartney, stating that the sales were "right for the club" and "based on our best long-term interests".
"In the past week, agreement could not be reached with Ferdinand on a new contract to replace his original deal that had just two years left to run," the club added.
"(And) McCartney handed in a formal written transfer request after failing to resolve his personal reasons for wanting a move away."
Curbishley took over from Alan Pardew as West Ham manager in December 2006 and was promised significant transfer funds to help achieve the objective of qualifying for the Champions League within five years.
He signed the likes of Kieron Dyer, Lucas Neill and Freddie Ljungberg during a summer of lavish spending in 2007, but his terms of reference changed this summer.
Gudmundsson told Curbishley he had to reduce the club's wage bill and that money was to be focused on training and medical facilities rather than signings.
Full-back Valon Behrami, who joined from Lazio for Ј5m, was West Ham's only significant signing of the summer.
Yet first-team squad members John Pantsil, Bobby Zamora, Richard Wright, Ferdinand and McCartney all departed.
Technical director Gianluca Nani has been responsible for the club's transfer policy since being appointed in March.
Curbishley oversaw a miraculous escape from relegation in the 2006/7 season, when Carlos Tevez scored the winner against Manchester United on the final day of the season.
The club finished 10th in the Premier League last season and are currently fifth in the table.
(BBC)
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