Liverpool fires manager Brendan Rodgers

Brendan Rodgers' contract with Liverpool was terminated with immediate effect after a 1-1 away draw at local rival Everton on Sunday, the club confirmed.

The Ulsterman joined the Anfield outfit in the summer of 2012 and pledged his allegiance to the club after the Merseyside derby stalemate.

Related: Brendan Rodgers: 'I will continue to devote every ounce' to Liverpool

About three hours after the match, however, principal owner John W. Henry, chairman Tom Werner, and president Mike Gordon announced the sacking of the manager through a statement from the Fenway Sports Group:

We would like to place on record our sincere thanks to Brendan Rodgers for the significant contribution he has made to the club and express our gratitude for his hard work and commitment.

All of us have experienced some wonderful moments with Brendan as manager and we are confident he will enjoy a long career in the game.

Although this has been a difficult decision, we believe it provides us with the best opportunity for success on the pitch. Ambition and winning are at the heart of what we want to bring to Liverpool and we believe this change gives us the best opportunity to deliver it.

The search for a new manager is underway and we hope to make an appointment in a decisive and timely manner.

Liverpool mounted a title challenge in 2013-14 with the frightening triumvirate of Luis Suarez, Raheem Sterling, and Daniel Sturridge spearheading its attack. But the team failed to hold on to its prized assets, with only the latter still representing the Reds, and hasn't come close to competing for a title since, despite significant splurges in the transfer market.

The five-time European champion begun the 2015-16 campaign with four wins in 11 games. Three of those were narrow victories over Stoke City, Bournemouth, and Aston Villa, while the other was courtesy of penalties against fourth-tier Carlisle United in the League Cup.

The next manager should be appointed before the club's next game at Tottenham Hotspur on Oct. 17, with Jurgen Klopp and Carlo Ancelotti rumoured to be in contention for the job.