Ronnie Moore has left Tranmere after the club missed out on a play-off place in League One.
A legendary figure at Prenton Park as a player, the former Rotherham boss became manager three years ago but has not been able to guide the club into the Championship since then.
Andy Doyle, chairman of the Tranmere Rovers Supporters Association, told BBC Radio Merseyside: "I am quite shocked and bemused at the statement that has been released by the club as we've just signed a player (Mark Allott) in the last few days.
"If it is a new start they seem to have mistimed it slightly."