AFC Wimbledon has today reached an agreement to part company with first-team manager Wally Downes.

Wally leaves on mutually agreed terms and with our sincerest gratitude for his time with the club, especially his invaluable contribution last season.

The agreement was reached with the approval of the Dons Trust board.

The club and Dons Trust boards suspended Wally last month when the FA announced it had charged him with alleged betting contraventions, with assistant manager Glyn Hodges placed in temporary control of first-team affairs.

While Wally’s FA disciplinary process concluded last week, the boards believe that a change of first-team manager is the best option to help the club maintain its recent upturn in performances.

Naturally, Wally leaves with our sincerest best wishes for the future and his place in our club’s history - as both a player and manager - assured.

In particular, Wally’s legacy can be found in the young vibrant squad we see on the pitch today, his attention to the financial constraints of the club and ensuring we maintained financial sustainability and laying the foundations for a squad capable of achieving a healthier league position.

Under the terms of the agreement reached with Wally, we will be making no further public statement about either his departure or the betting charges.

We are pleased that Glyn Hodges will continue as caretaker manager.