Sam Allardyce will step down as West Brom's head coach at the end of the season.
West Brom announced Allardyce had informed them of his intention to leave following Wednesday's 3-1 Premier League loss to West Ham at The Hawthorns.
The 66-year-old revealed he was made a "generous offer" to remain at the club as they drop down to the Sky Bet Championship next season, but the former England manager says he cannot commit to the project at this stage of his career.
Allardyce said in a statement: "West Bromwich Albion made me a generous offer to stay at The Hawthorns that shows the commitment of an ambitious club. After serious consideration, I have decided not to accept that offer."
Explaining his decision after the defeat to West Ham, Allardyce told Sky Sports: "For me, it is a long-term prospect for somebody more than me. I am, as you always say, a man that comes and saves a club, a man who is short term. I am happy with that. That is my life for the last few years.
"I think it needs someone to take the club by the scruff of the neck and take them up. I thank the club for the opportunity to stay and I'd like to thank the fans cheering us on tonight."
When asked how hard the Baggies worked to keep him, Allardyce continued: "All out. But I am my own manager as you know. That's who I am. They were very generous. I was very pleased and flattered that they wanted me to stay."
Allardyce was in a fiery mood after the game and took particular offence to post-match comments made by West Ham striker Michail Antonio.
"They played some free-flowing football. Some big guys, hitting the channel, you know how Sam always plays," the Hammers forward said on the Baggies' style of play.
Allardyce took exception to the comments and described them as "disgusting", saying: "Michail Antonio's statement I just heard, saying 'we've just got big men that play in the channels', he's just insulted me and my team.
"I know he's a nice lad but it was disgusting what he said. I think he should go back and watch the game to see how we really played.
Since Sam Allardyce's appointment
|(Per 90 minutes)||Premier League rank|
|Final third passes attempted||102||19th|
|Long balls attempted||65||2nd|
"Our front two are 5ft 10in and 5ft 9in, I don't know what big men he saw running into channels.
"I've been more than 'Mr Short Term' for the last six or seven years, that's what all you lot talk about. It's just like Antonio said, we're 'long ball'.
"It is a load of crap and always has been, I've never played long ball at any club I've been at. If you thought that was long ball, then you are deluded."
Allardyce took over as West Brom head coach in December 2020, replacing Slaven Bilic, who had guided the club back to the Premier League from the Championship.
He has overseen some impressive results, including draws with Manchester United and Liverpool, as well as a 5-2 win over Champions League finalists Chelsea at Stamford Bridge.
However, West Brom are without a win in the Premier League since April 12 and relegation back to England's second tier was confirmed with three fixtures remaining.
Allardyce will take charge of West Brom for the final time against Leeds at Elland Road on Sunday.
Former Sheffield United manager Chris Wilder is on a shortlist of candidates to take over at West Brom.