The former Manchester United and England defender said his record of only three wins from 16 La Liga games – and 10 from 28 in all competitions – was simply not good enough for either his own or the club’s standards.
And even his friendship with Valencia owner Peter Lim could not save him with the 2-0 home defeat to Celta Vigo 10 days ago leaving a club with Champions League ambitions 14th in the table and only six points above the relegation zone.
Singapore businessman Lim is also a majority stakeholder in Salford City – a club part-owned by Gary, his brother Phil and three other members of United’s “Class of 92” Nicky Butt, Ryan Giggs and Paul Scholes.
Neville said: “I would have liked to continue the work I started but I understand that we are in business based on results and in 28 games we have seen 10 wins, seven draws and 11 defeats, which is not the level demanded by me or by this club. I want to thank Valencia, the fans, the coaching staff and players.”