Newcastle on Wednesday morning announced the departure of manager Steve Bruce.
Bruce was widely expected to be sacked by the new owners last week after the takeover.
But the Saudi-led consortium decided to let him complete his 1,000th career game in management.
That game ended in a 3-2 defeat by Tottenham Hotspur on Sunday, plunging Newcastle deeper into a relegation fight.
Bruce is set to pocket £8million in compensation as he departs his boyhood club.
A club statement released on social media on Wednesday morning read: “#NUFC can confirm that Steve Bruce has left his position as head coach by mutual consent.
“The club would like to place on record its gratitude to Steve for his contribution and wishes him well for the future.”
It added that Graeme Jones will lead the team as interim boss and will be supported by Steve Agnew, Stephen Clemence Ben Dawson and Simon Smith.
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