Darren Ferguson: Peterborough United accept manager's resignation
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Darren Ferguson led Peterborough United to promotion from League One last season
Championship club Peterborough United have confirmed they have accepted manager Darren Ferguson's resignation.
Ferguson, 50, departs with the club second-from-bottom in the Championship after a 1-0 defeat by fellow strugglers Derby County on Saturday.
In his three spells as manager, he led Peterborough to four promotions including from League One last season.
"I want to personally thank him for all his hard work," co-owner Darragh MacAnthony said in a club statement., external
Ferguson himself issued a statement through the League Managers Association saying he had come to the decision after "serious consideration".
"After working tirelessly and winning promotion to the Championship, I genuinely hope that the club can find a way to remain there," the former Preston and Doncaster boss said.
"I would like to express my respect for Darragh MacAnthony, who has shown endless support and commitment to Peterborough United throughout the years.
"I'm sure the fans will continue to get behind him and the new management no matter what the position of the club is."
MacAnthony, who accepted Ferguson's resignation following a phone call on Sunday, added: "Myself and my two partners regard Darren as one of the greatest managers of this football club, most certainly in the modern era.
"The success we have enjoyed with him at the helm has been unrivalled and he will always be described as a legend by myself and my partners."
Peterborough are without a win in their past nine Championship matches and defeat at Derby saw them drop below the Rams and five points adrift of safety.
The club are yet to confirm who will take charge of the team before their next match at Championship leaders Fulham on Wednesday.