Mick McCarthy has finished as boss of the Republic of Ireland with immediate effect and the FAI will hold a press conference at 9pm tonight in the Burlington Hotel, Dublin.
It is thought that the final severance package was worth consideraby less than the figures widely reported in the last few days.
McCarthy was content to rubber-stamp the deal agreed in discussions over the last few weeks, making another meeting superfluous.
John Toshack is now considered the racing favourite for the now vacant Irish manager's job.
It is believed that Toshack was offered the position as Irish boss late last week but has yet to give a definitive answer.
The FAI have also agreed a deal with McCarthy's Number 2 Ian Evans. The process of recovery for everyone involved in the Irish squad will now begin, a fact which makes Matt Holland's weekend suggestion that Roy Keane should be brought back into the Irish set-up very significant indeed.
Some remain concerned that Keane's hip and knee injuries will keep him out of action for much longer than expected and that Christmas might be too early for a comeback.
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