Hodgson resigns as England manager after shocking loss to Iceland

Immediately following England's shocking 2-1 loss to Iceland in Monday's Round of 16 contest at Euro 2016, Roy Hodgson announced his resignation as manager of the Three Lions.

Assistants Ray Lewington and Gary Neville will join Hodgson in leaving their respective posts on the Three Lions' bench.

Related: Iceland's fairy tale continues after stunning, historic upset of England

"I'm extremely disappointed of course about tonight's result and ultimately our exit from the competition. We haven't progressed as far as I thought we were capable of, and that's obviously not acceptable," Hodgson said.

"I'm actually proud of the work my coaching staff and I have achieved over our time at the helm of England. The transition from the squad whose average age was 30 to now being the youngest in the tournament is both remarkable and exciting for the future of English football."

Prior to the tournament, FA chairman Greg Dyke had stated that Hodgson would only remain in charge of the side if England did "well" at the competition. Obviously, being ousted in historic fashion at the hands of a nation with 330,000 people doesn't exactly qualify.

Hodgson, 68, had been at the helm of England for three years, winning 33 of his 56 matches in charge. However, in three major tournaments - Euro 2012, the 2014 World Cup, and this summer's competition - his bewildering tactics and questionable squad choices resulted in a mere three victories from 11 contests.

Under the tutelage of the meandering manager, England never progressed beyond the Round of 16 at a major tournament; the two European Championship disappointments were sandwiched by a dismal showing in Brazil two years ago, where England didn't win a match and went home after a group stage elimination.

"Like the nation, we are disappointed to lose this evening and that our run in Euro 2016 has come to a premature end," read an FA statement.

"We back Roy Hodgson’s decision to step down as England manager and will discuss next steps imminently."