Cambridge United have announced the departure of Richard Money after three years in charge of the club.

The U's say that the decision has been taken following a disappointing run of results over the past nine months.

A failure to win back-to-back games so far this season has left United sitting down in 18th place in the League Two table - six points adrift of the playoffs.

Money guided Cambridge back into the Football League in 2013-14, capping a memorable year with a positive FA Cup run that culminated in two games against Manchester United.

A club statement read: "We want to place on record our sincere thanks to Richard, who has been instrumental in the club's progress over the last three years.

"Richard has achieved a special place in the history of Cambridge United Football Club and will always be warmly welcomed at the Abbey Stadium."

Assistant boss Joe Dunne has been placed in temporary charge, with games against Oxford United, Accrington Stanley and a cup tie with Basingstoke Town to come over the next few weeks.