WALSALL Football Club has today announced the resignation of Richard Money as Team Manager, which will take immediate effect.

The news was confirmed today by Saddlers' Chairman, Jeff Bonser, who commented: "Richard came to the club at a very difficult time, when we had just been relegated to League Two and our playing fortunes were at a low ebb.

"During these past two years, through a great deal of hard work, he has led the club to the League Two Championship and to a position just outside the League One play-off positions, a very impressive achievement.

"We would like to place on record our appreciation for the work that Richard has undertaken for the club, and to wish him well for the future".

Richard Money added: "Looking to the future, I believe that this decision is in the best interests of both myself and the club.

"The timing of my departure will give the club the maximum opportunity to bring in a new Manager, and to give him the chance to bring in his own players for next season.

"I am proud of what we have achieved over the past two years. Winning the League Two Championship was a very special moment for me and keeping Walsall in contention for a League One play-off place for 44 games has been a tremendous achievement by everyone concerned.

"I need to thank a number of people, the Chairman and Board of Directors for giving me the opportunity to manage the club and for their support. I would also like to thank my staff, particularly Paul Taylor, and the players for their loyalty, commitment and hard work. I would also like to thank the fans for their support, patience and understanding.

"Finally I would like to wish Walsall Football Club every success for the future."

Assistant Manager, Jimmy Mullen, has been placed in charge of team affairs in the interim period.

No further statement will be issued.