The former Spurs, Manchester United and West Ham striker took his first managerial role at Stevenage last summer, but has managed to win only six times in 29 games in League Two this season, leaving the club perilously close to the relegation zone.

In a statement, on the club's official website, Chairman Phil Wallace admitted Sheringham had been unlucky, given the amount of injuries to his squad, "Teddy has had the worst luck I’ve seen in the 16 years I’ve owned the football club." He said

"Normally we’d have one or two major ops on key players in a season but we’ve had more this season than the last three combined."

"You also occasionally lose points in the last few minutes of games but we’ve been in this situation in four of the last eight matches. However, we are where we are and the club have to make a change."

The chairman also admitted that the club's budget was smaller than previous seasons, which also contributed to Sheringham's struggles.

"Teddy came in having to work on a lower budget than we’ve had before and the lack of available funds has made it difficult to get the players he’d like. He’s given it his all but it hasn’t worked and now we have to thank him for his efforts and move on."

Darren Sarll will take over as caretaker manager whilst the club consider their options.