by Hugo Varley
Richard Money has been relieved of his duties as Cambridge United manager this morning.
The 60-year-old led the U’s back into the Football League in 2014 after nine years in the Conference and last year he came close to masterminding the defeat of Manchester United in the Fourth Round of the FA Cup.
Money signed a new three-year deal at the Abbey Stadium in May but his time in charge has been cut short after a disappointing start to the season.
He leaves the club in 18th place in League One having only won five matches this season.
A statement on Cambridge’s official website read: “The club has taken this difficult decision due to the disappointing pattern of results over the last nine months and because the current squad is not showing consistent signs of achieving its potential
“We want to place on record our sincere thanks to Richard, who has been instrumental in the club’s progress over the last three years.
“Richard has achieved a special place in the history of Cambridge United Football Club and will always be warmly welcomed at the Abbey Stadium.”
Money’s former assistant Joe Dunne will take charge of the side until a permanent replacement is found.