Goodnight said Fred
It's the news that thousands of fans have been dreaming about for almost nine years.
Freddy Shepherd is history at St JamesÃ¢ÂÂ Park.
The role of chairman was always going to be a difficult one to follow MetroCentre tycoon Sir John Hall and there have been plenty of ups and downs since the Geordie chief stepped down.
Unfortunately for Newcastle UnitedÃ¢ÂÂs incredible support there have been more downs that ups.
Ever since Freddy was caught out by a Sunday newspaper he has been skating on thin ice.
Along with Douglas Hall he caused an outcry when he insulted every single Geordie on the planet by referring to local woman as dogs, humiliating Alan Shearer by calling him Mary Poppins and ridiculing the Toon Army for splashing out hundreds of pounds on club merchandise.
Other lowlights must be the bad handling of Sir Bobby RobsonÃ¢ÂÂs departure and a series of failed managerial appointments that have moved the club backwards since Kevin Keegan almost won the title in 1996.
To ensure a little bit of fairness Shepherd probably picked the best men available at the time in his eyes but the failings of the likes of Dalglish, Gullit and Souness could not have been more dramatic.
And had it not been for Alan Shearer and Shay Given who knows where the club would have ended up.
Shepherd always did his best in the transfer market to recapture the Hall years but even the signing of Michael Owen could not save the club from another disaster.
The arrival of Mike Ashley has restored faith for many fans and we can only hope he is at the club for the right reasons.
He knows as much about Geordie life as Osama Bin Laden but he also knows a lot about running a business successfully and that will do for most United fans for now.
But despite four signings in the bag for Big Sam we are yet to see a convincing signing after rumblings that a big name was on the way.
Now with Freddy gone surely this is the time for Ashley and chairman Chris Mort to prove he has well and truly arrived on Tyneside.
The only way for him to do this is to bring in the players the fans deserve and finally get the Toon Army singing in full voice once again.
What do you think?