West Ham United have confirmed manager Sam Allardyce will leave after not being offered a new contract at Upton Park, within five minutes of full-time of the final Premier League game of the season.

The Hammers were beaten 2-0 at Newcastle United in their final fixture of the campaign and end the season in 12th place.

Allardyce, 60, will be out of contract at the end of June and the club released a statement within five minutes of full time at St James' Park to confirm his departure.

Joint-chairmen David Gold and David Sullivan released the following statement on the club website:

“We would like to start by thanking Sam Allardyce for his valuable work since arriving at the Boleyn Ground four years ago.

“He leaves the club in a considerably better state then when he arrived and, for that, the board are truly grateful.

“However, we have made the decision not to renew his contract, so we now have the chance to appoint a new manager with a new philosophy to lead us into two of the most exciting years in our great club’s history.

“Our target is to recruit a manager that will build a team capable of saying a fitting farewell to the Boleyn Ground next year and do justice to the outstanding surrounds we will call home from August 2016.

“We have already been impressed with the quality of candidates that have expressed an interest in the role and fully expect to appoint a manager with the credentials to take this club on to new heights."

Allardyce had confirmed in his pre-match press conference on Friday he would discover his fate at a meeting on Monday which he would not attend as he would be in Spain with his grandchildren instead.

The Hammers have also revealed the search for Allardyce's replacement has already begun, with a shortlist drawn up and "significant" transfer funds available to the successful applicant.

Appointed in 2011 following relegation to the Championship under Avram Grant, the former Bolton Wanderers and Blackburn Rovers boss delivered promotion via the Play-Off Final at the first time of asking.

Having guided the east Londoners back into the Premier League, Allardyce oversaw tenth and 13th-placed finishes.

The Hammers began the 2014/15 season encouragingly and were at one stage third in the league. However, a miserable second half of the season saw a slide to 12th after just three top flight wins in 2015.