BACK-to-back promotions was not enough to save Peterborough manager Darren Ferguson as he left the club by mutual consent.
Despite signing a new four-year contract in the summer, Ferguson has paid the ultimate price for Posh's poor start to the season.
A statement on the club's website said: "Following a series of meetings with the manager, Peterborough United and Darren Ferguson have decided to part company with immediate effect by mutual consent.
"The football club would like to thank Darren for his magnificent service during his time at London Road and wish him and his family all the best for the future.
"Peterborough United Football Club wish to assure all its supporters that the perceived delay in announcing the departure of the manager by mutual consent was entirely due to the confidential terms and conditions that underpinned the agreement which was not approved and finalised until this afternoon."
Many fans believe the departure of the 37-year-old, could leave the future of a handful of the team's players in doubt.
