Maybe their nerve went? They see losing the possible compo by sacking him as less impact than another year in league one which is where they would be if they kept him as manager. Longer term financial sense provided they go up of course.
Apparently the chairman said they must get automatic promotion this year and rather than three defeats in 53 he just sees another league campaign coming off the rails and automatic promotion slipping away. The amount of money Clarke has been given they should be in the Championship by now. Last night was the final straw for the chairman. Breaking records means Jack-**** if they are still in the pub league next season.