Tim Sherwood has been dismissed by Tottenham Hotspur today, with Saints boss Mauricio Pochettino the frontrunner alongside Ajax's Frank de Boer for the job.
Spurs confirmed the expected departure of Sherwood, who had been handed an 18-month contract last December, in a statement this lunchtime.
Pochettino and De Boer are the two favourites to replace the 45-year-old at White Hart Lane, although Saints are understood to have tabled a contract offer to their manager in a bid to keep him at St Mary's.
Chairman Daniel Levy said: “We appointed Tim mid-season as someone who knew both the players and the Club.
“We agreed an 18-month contract with a break clause at the end of the season and we have now exercised that option.
“Since appointing Tim as Assistant First Team Coach in 2008 and then as Technical Co-ordinator in 2010 and Head of Football Development in 2012, we have been supportive of him during football management changes throughout that period.
"On behalf of the Club, I should like to state our thanks for all his efforts during his years with us. We wish him great success in his managerial career.
“Moving forward, now the season is over, we shall embark on the process of finding a new Head Coach.
"We have a talented squad and exciting young players coming through. We need to build on this season, develop our potential and inspire the kind of performances that we associate with our great Club."