David Moyes turned down £3million in compensation after quitting as Sunderland boss, it emerged last night.

The former Manchester United manager lasted just nine months in the Stadium of Light hot seat.

After overseeing the club’s ill-fated relegation to the Championship, the ex-Everton boss opted to resign.

Moyes informed the North East club of his decision to leave during a meeting in London with chairman Ellis Short on Monday, passing up on the opportunity to claim a staggering pay-off.

It is understood that would have been worth a cool £3m after ending his four-year contract early.

Moyes has opted to walk away with a pay-off after overseeing Sunderland’s relegation.

The decision was well received by Sunderland chiefs who paid tribute to Moyes’ “character”.

A club statement made by chairman Ellis Short read: “I pursued the services of David Moyes for a considerable period prior to his appointment last summer, which makes the announcement of his departure difficult for everyone concerned.

“Having worked tirelessly throughout the campaign to avoid relegation from the Premier League, David has chosen to leave the club without compensation, which is testament to his character.

“In the days ahead we will take some time for reflection, and then focus on recruitment and pre-season as we prepare for our Championship campaign. We wish David well in the future.”

Moyes lost 28 times in 43 games with just eight wins and seven draws.

He took charge at Sunderland just last summer in the hope of reviving his career after failed spells at Manchester United and Real Sociedad.

Yet his side finished bottom after winning just six of their 38 games in a dismal campaign.

Sunderland will now focus their attention on finding a manager who can successfully steer the club back to the Premier League at the first time of asking next season.

Man United legend Ryan Giggs, who replaced Moyes as caretaker boss when the Scot was axed at Old Trafford in 2014, is the frontrunner to take over for his first boss role.