Beardsley has been on leave since an investigation into racism and bullying allegations was launched last year.

The 58-year-old, who had been under-23s coach at Newcastle since 2009, had "categorically denied the allegations".

The former England international, who made 326 appearances for Newcastle as a player, said the "time was right to seek a new challenge".

Newcastle added it was "grateful for the contribution Peter has given over the years as a player, coach and ambassador and we wish him well for the future".

Northumberland-born Beardsley, who also had successful spells at Liverpool and Everton, played for the Magpies between 1983 and 1987, returning for another four-year spell in 1993.

When the allegations surfaced in January 2018, Beardsley's solicitors issued a denial of what they called "inaccurate media reports which result from unauthorised leaks".

Beardsley faced multiple complaints, including one of bullying by 22-year-old academy midfielder Yasin Ben El-Mhanni.

Newcastle's statement on Wednesday makes no reference to the findings or result of its investigation.

Beardsley was offered a coaching role on Tyneside following his retirement in 1999.

In 2003, he and academy director Kenny Wharton faced a Premier League inquiry over allegations of bullying made by youth players James Beaumont and Ross Gardner. The case was dismissed.

He left in 2006 before returning in an ambassadorial role following Mike Ashley's takeover at St James' Park and was appointed as an academy coach again in 2009.

In a statement released shortly after Newcastle's announcement, Beardsley added: "I have always honoured my contractual obligations of confidentiality to the club and maintained my silence, which has in itself been very difficult.

"I am incredibly grateful for the tremendous support I have received and I look forward to the future."