Simon Grayson was left disappointed by his Sunderland sacking but hopes the club will "return the success and first-class football" for the supporters.
Grayson was dismissed following Tuesday's 3-3 draw with fellow Championship strugglers Bolton Wanderers.
He departed having claimed just one league win from 15 games after replacing David Moyes in the wake of relegation from the Premier League.
Sunderland sit third-bottom in England's second tier, two points adrift of safety.
"I would like to take this opportunity to express my thanks to the club and all the fans, players and staff at the club's training ground and the Stadium of Light," Grayson said in a statement through the League Managers Association.
"Sunderland AFC is a huge football club and whilst I am very disappointed not to be continuing as its manager, I hope that the club will stabilise and return the success and first-class football that the supporters and people of Sunderland deserve.
"I would like to wish everyone associated with Sunderland AFC all the very best for the future."