Sam Allardyce has announced he will step down as West Bromwich Albion's head coach at the end of the season.
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The 66-year-old, who has managed a record eight Premier League clubs, will depart after Sunday's trip to Leeds United.
It will be his 537th match in the competition, leaving him fifth in the all-time list among PL managers.
Allardyce told the club's official website: "West Bromwich Albion made me a generous offer to stay at The Hawthorns that shows the commitment of an ambitious club. After serious consideration I have decided not to accept that offer.
"If I were to stay and achieve promotion next season the expectation would be for me to continue for at least another season and, sadly, that is not a commitment I feel able to make at this stage of my career.
"I believe the club now needs stability and continuity and this would, in my opinion, best be provided by a young and ambitious manager who can get us back to where we should be as an established Premier League football club."
Allardyce discusses decision to leave
Albion's sporting and technical director Luke Dowling added in a statement: "Sam, Sammy [Lee] and Robbie [Stockdale] came in at a really difficult time for the football club and worked tirelessly in their efforts to keep the club in the Premier League.
"Unfortunately, collectively, we were unable to achieve our goal of surviving relegation. In the second half of the season we played with passion and desire, delivering some memorable results with organised, entertaining football.
"Ultimately, we were unable to accumulate the points total required to keep us here, but Sam certainly restored pride with a number of resilient displays."