The Black Cats finished bottom of the English table with 24 points and just six wins following a disappointing 2016/17 campaign, with Moyes today announcing his decision to step down as coach after a year in charge.
Club chairman Ellis Short admitted it was sad to see the former Everon and Manchester United boss leave, yet wished him well.
“I pursued the services of David Moyes for a considerable period prior to his appointment last summer, which makes the announcement of his departure difficult for everyone concerned,” he said.
“Having worked tirelessly throughout the campaign to avoid relegation from the Premier League, David has chosen to leave the club without compensation, which is testament to his character.
“In the days ahead we will take some time for reflection, and then focus on recruitment and pre-season as we prepare for our Championship campaign. We wish David well in the future.”
Moyes himself thanked the club for their support, and said he hoped to see them back in England’s top-flight soon.
“I would like to thank Ellis Short and the board for giving me the opportunity to manage Sunderland and the fans for always being so passionately supportive of their club,” he said.
“I wish the players and my successor well in their efforts towards promotion back to the Premier League.”