Former Peterborough boss Darren Ferguson has been installed as 2/1 favourite to succeed Paul Hart as the next Portsmouth manager. Avram Grant is second favourite, although he is still awaiting a work permit.
Explaining the dismissal of Hart, Chief executive Peter Storrie said: “The board feels that the team should have accrued more points to date and that we need a new man in charge to ensure Premier League survival.
"The board would like to thank Paul for his work not only in keeping the club in the Premier League last season but also for his time in charge of youth development.
"Paul is a man of great dignity and we hoped he would stay and help us develop younger players on the fringes of the first team.
"We are genuinely sad to see him leave. Everyone at the club wishes him well for the future."
Hart was Portsmouth's director of youth operations until being handed the chance to take over from former manager Tony Adams in February this year, initially as caretaker boss.
Striker Danny Webber was signed by Hart in the early weeks of the season, and admitted his exit came as a shock.
He told Sky Sports News: "Paul was at training and everything was as normal. I don't think any of the players saw this coming at all.
"I am sad to hear Paul has gone as I myself and all the lads have been impressed with the work he was doing and how he conducted himself. I don't think anyone would have any bad words to say about him."
