Speculation over the future of O’Neill has been rumbling on all summer but the decision could not come at a worse time for the club with the new Premier League season just days away.

O’Neill has worked wonders during his time at Aston Villa and even though they failed to qualify for the Champions League, he moved them on to the next level when finishing in the top seven to qualify for the Europa League.

However it seems as though trouble has been brewing behind the scenes with American owner Randy Lerner and there were stories towards the end of last season that he was ready to quit Villa Park.

They turned out to be false but everything has now come to a head and O’Neill has now decided to walk away.

A statement from O’Neill revealed: “I have enjoyed my time at Aston Villa immensely. It’s obviously a wrench to be leaving such a magnificent club. I would like to pay tribute to the Villa players, my coaching staff and the Villa supporters for all the support and encouragement they have given both the club and me personally during my time as manager.

“I wish them all the best for the future. I will obviously be assisting the club in the immediate short-term with regard to the handover of my duties.”

O’Neill has not gone into detail but it is thought the imminent sale of James Milner to Manchester City was the final straw. The Irishman would have been hoping for cash to take Villa into the Champions League but he has yet to make a single signing and is set to lose his best player.

Gareth Barry also left the club for Manchester City last summer and O’Neill may think he has taken the club as far as he can with the support available.

The race will now be on for his successor and although they will be queuing up for the post there are not too many available names that would excite the Villa faithful.

Villa are 4/6 to beat West Ham at Villa Park on the opening day of the season but with the club in disarray, the Hammers may be fancying their chances.

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Liverpool

The Spaniard has finally paid the price for last season’s dismal campaign and after the two parties agreed a severance package earlier today, he was sent on his merry way.

Rumours over the future of Benitez have been rumbling on for the last few months but it only broke late on Wednesday night that he could be heading for the exit door.

The 50-year-old says it is with regret that he leaves Anfield after six years at the helm but he will have no problem getting fixed up elsewhere, with Inter Milan keen to land him.

“It is very sad for me to announce that I will no longer be manager of Liverpool FC,” Benitez revealed. “I would like to thank all of the staff and players for their efforts. I’ll always keep in my heart the good times I’ve had here, the strong and loyal support of the fans in the tough times and the love from Liverpool.

“I have no words to thank you enough for all these years and I am very proud to say that I was your manager. Thank you so much once more and always remember: You’ll never walk alone.”

Benitez will always be remembered for winning a fifth European Cup but it is ultimately his failure to bring the Premier League title to Anfield that has cost him.

Last season’s seventh place finish, coupled with an early exit from the Champions League, did not help matters and with clubs abroad showing an interest, the two parties have come to a mutual agreement to end Benitez’s tenure.

The race is now on to find his successor with Kenny Dalglish (5/2f to be next Liverpool manager) and Martin O’Neill (5/2f) the early frontrunners, while Roy Hodgson (7/2) and Guus Hiddink (10/1) have also been mentioned.

It would have been interesting to see if Jose Mourinho would have fancied it but he has just taken over at Real Madrid and is out of the running.

Despite Liverpool’s struggles on and off the pitch over the last couple of seasons it is still arguably one of the biggest jobs in world football and there will be no shortage of top names declaring an interest.

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