Cortese's departure has created a huge level of instability at Southampton.

Nicola Cortese resigns as Southampton Chairman, manager Mauricio Pochettino could follow

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Southampton Football Club is looking for a new leader, as Nicola Cortese resigned from his post as Executive Chairman on Wednesday night as the Premier League side has been thrown into turmoil.

In a brief statement released by the club, they revealed owner Katharina Liebherr is now the non-Executive Chairman and the hunt is already underway for Cortese’s successor.

“Southampton FC today announces that club owner Katharina Liebherr has taken on the role of non-executive Chairman. This follows the resignation of Nicola Cortese. A search has begun for a Chief Executive Officer who will take over Mr Cortese’s executive duties.”

Cortese, an Italian banker who aided German billionaire Markus Liebherr with the acquisition of the club back in 2009 for $20 million when they were on the brink of extinction and bottom of English soccer’s third-tier, has walked away from the project which has seen him turn Saints into a top 10 PL club after they were down and out. The club is now worth an estimated $180 million after a dramatic rise.

Branded a controversial and brutal figure by many Cortese, 45,  has led Southampton’s charge up the English soccer pyramid following the sudden death of Liebherr in 2010. Following that setback, Cortese has ruthlessly transformed Southampton into one of English soccer’s great success stories of recent times after back-to-back promotions from League One saw them return to the top-flight in 2012-13 and establish themselves as a forward-thinking club this term.

(MORE: The dramatic rise of Southampton FC and their fans)

However now Cortese’s work with Saints is over, with reports suggesting he handed in his resignation months ago and was waiting for it to be accepted so the man who made his name in Swiss banking could move on.

source: Getty Images
Could Southampton manager Mauricio Pochettino follow Cortese by walking away?

The daughter of the man who saved Southampton back in 2010, Katharina Liebherr, has confirmed she has taken on the role of non-executive Chairman and the South Coast club are now searching for a Chief Executive Officer to replace Cortese.

“With great regret we have accepted the resignation of Mr Cortese,” Liebherr said. “He has done a wonderful job at the club and we very much wanted him to stay. A search has now begun for a successor. In the meantime, it is business as usual and we will ensure that the manager, the team and all the staff at the club have all the help and support they need.”

To add to all the drama, it also seems as though Southampton’s manager Mauricio Pochettino may be heading out of the door alongside Cortese, as the Argentine manager has previously stated his intent to leave if Cortese were to walk away.

Back in May 2013 rumors persisted that Corteses would leave the project at Southampton after a row over funds with Katharina Liebherr. Asked then if he would remain in charge if the Chairman who had appointed him left, Pochettino had the following to say:

“The reality is we share a common passion and we share a long-term plan for this club. We share our passion for football and it would not make much sense for me to continue at this club if he [Cortese] is not here. I do not understand Southampton without Nicola in the future and I think the reality is Nicola has created everything we see at Southampton now.”

It seems as if turbulent times are ahead for Southampton after their best season in decades — which sees them currently sitting in ninth place in the PL with a young talented squad full of international players — has been throw into disarray, as a disintegration at the board room level could bring the club to its knees. Pochettino could be followed out of the door by several first team players, as 18-year-old Luke Shaw is attracting the interest of Manchester United, Manchester City and Chelsea, while England internationals Rickie Lambert, Jay Rodriguez and Adam Lallana could all leave in the January transfer window.

The next 24 hours will reveal more facts about what’s going on at St. Mary’s. But all is not well on the South Coast of England as Cortese has walked away from the Saints.

ProSoccerTalk’s lead writer and editor Joe Prince-Wright will be live at St. Mary’s Stadium in Southampton on Thursday, to deliver all the latest news as the story unfolds.

Coleman explains why he stayed as Wales coach, rejected Hull

ZENICA, BOSNIA AND HERZEGOVINA - OCTOBER 10: Head coach Chris Coleman of Wales celebrates after the Euro 2016 qualifying football match between Bosnia and Herzegovina and Wales at the Stadium Bilino Polje in Elbasan on October 10, 2015. (Photo by Srdjan Stevanovic/Getty Images)
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CARDIFF, Wales (AP) — Chris Coleman says he chose to remain as Wales manager despite interest from Premier League side Hull because he’s in a job that is “close to his heart.”

The Football Association of Wales rejected an approach for Coleman from Hull this month, with the Welshman deciding to stay on rather than resigning.

Coleman, who guided Wales to the European Championship semifinals against the odds, said on Wednesday that “if someone comes and it’s the Premier League, anybody, you kind of look at it sideways. Of course.”

But, Coleman added, managing your country “comes around once, if you’re lucky.”

Coleman has made no secret of his desire to manage in club football in the future, but says “what I’ve got here is something very special and close to my heart.”

FOLLOW LIVE: The UEFA Champions League finds its last five group stage teams

MANCHESTER, ENGLAND - AUGUST 24:  Joe Hart of Manchester City warms up prior to the UEFA Champions League Play-off Second Leg match between Manchester City and Steaua Bucharest at Etihad Stadium on August 24, 2016 in Manchester, England.  (Photo by Michael Regan/Getty Images)
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Who’s going to join Porto, Monaco, Legia Warsaw, Ludogorets Razgrad and Celtic as playoff teams to join the UEFA Champions League group stage?

The biggest names of Wednesday’s slate are cruising after their first legs, with Manchester City and Borussia Monchengladbach putting five and three goals on the board, respectively.

[ MORE: Champions League Tues. roundup ]

Could the match be Joe Hart‘s last for City? The longtime backstop gets the call with the transfer window a week away.

In the other three cases, things are wide open. Rostov plays Ajax, Red Bull Salzburg faces Dinamo Zagreb, and APOEL lines up Copenhagen.

Wednesday’s UEFA Champions League slateFOLLOW LIVE

Borussia Monchengladbach (3) vs. (1) BSC Young Boys
Rostov (1) vs. (1) Ajax
Red Bull Salzburg (1) vs. (1) Dinamo Zagreb
APOEL (0) vs. (1) Copenhagen
Manchester City (5) vs. Steaua Bucuresti (0)

FOLLOW LIVE – EFL CUP: Four Americans in the 18 for Fulham, Sunderland, Bournemouth

MANCHESTER, ENGLAND - AUGUST 13: Lynden Gooch of Sunderland challenges David Silva of Manchester City during the Premier League match between Manchester City and Sunderland at Etihad Stadium on August 13, 2016 in Manchester, England.  (Photo by Michael Steele/Getty Images)
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The newly-renamed EFL Cup, formerly the League Cup, rolls on Wednesday with four more matches ahead of the evening’s third-round draw.

American attacker Lynden Gooch starts for Sunderland, while Tim Ream starts for Fulham and Luca de la Torre is on the Cottagers’ bench. Emerson Hyndman is on the bench for Bournemouth.

Tuesday’s action saw Premier League sides West Brom and Watford excused from the tournament.

Wednesday’s EFL Cup scheduleFOLLOW LIVE

Accrington Stanley vs. Burnley
Fulham vs. Middlesbrough
Morecambe vs. Bournemouth
Sunderland vs. Shrewsbury Town

L.A. Galaxy’s Keane retires from Republic of Ireland duty

DUBLIN, IRELAND - OCTOBER 11:  Robbie Keane of Republic of Ireland applauds the fans during the EURO 2016 Qualifier match between Republic of Ireland and Gibraltar at Aviva Stadium on October 11, 2014 in Dublin, Ireland.  (Photo by Ian Walton/Getty Images)
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Robbie Keane is ending a big chapter in his career.

Fear not, Galaxy fans, the 36-year-old living L.A. legend isn’t calling it quits on club soccer, but Keane is done with representing the Republic of Ireland.

Keane will play one more game for the Boys in Green, a friendly against Oman next week, before leaving the Republic to qualify for the World Cup without him.

[ MORE: Yedlin, Newcastle make it official ]

In a sprawling and understandably emotional — if not moving — statement, Keane says he isn’t going to stop playing for his club anytime soon, and that he hardly dreamed he’d get to this point.

No player has been capped (145) or scored (67) as many times for Ireland than Keane.