Sheffield Wednesday have sacked manager Gary Megson.

The 52-year-old took charge of the Owls a year ago following a spell with Bolton Wanderers.

Wednesday are currently third in the League One table after a 1-0 win over local rivals Sheffield United on Sunday.

"This was a very difficult decision but one that has been taken with the best interests of Sheffield Wednesday at heart," chairman Milan Mandaric said in a statement.

"We have 13 games to go of what is a critical season for our club and this decision has been taken because I believe we have a better chance of achieving our key aim of promotion by making the change.

"I fully understand this may not be the most popular decision amongst our supporters but I ask them to trust me, as they have done so whole-heartedly during the time I have been at the club."

Former Cardiff City boss Dave Jones has emerged as the early favourite to succeed Megson at the club.