Leicester City say they have 'relieved Nigel Pearson, of his duties' as manager.
Here is the full statement from Leicester City:
"The Board of Directors recognises the success Nigel has helped to bring to Leicester City during his two spells in charge of the Club, particularly during the last three and a half years. However, it has become clear to the Club that fundamental differences in perspective exist between us. Regrettably, the Club believes that the working relationship between Nigel and the Board is no longer viable.
"Leicester City’s owners, Vichai and Aiyawatt Srivaddhanaprabha, and the Board of Directors would like to place on record their thanks to Nigel for the considerable contribution he has made during his time with the Club and wish him well in the future.
"Khun Vichai and Khun Top remain wholly committed to the Club’s long-term development and to on going investment in a squad that will continue to be competitive in the Premier League. We trust that the Club’s supporters will recognise that the owners have always acted with the best interests of the Club at heart and with the Club’s long-term future as their greatest priority.
"Craig Shakespeare and Steve Walsh will take charge of first team duties while the Club begins its recruitment of a new manager. There will be no further comment until this process has concluded."