Guy McKenna has been sacked as coach of the Gold Coast Suns with a year left to run on his contract. The club informed McKenna of its decision on Tuesday.

The inaugural coach of the expansion club, McKenna has been in charge at the Suns for four seasons. He has come under pressure recently with the Suns falling out of finals contention in the latter part of the season.

There has been recent speculation that McKenna would not continue as coach in the long term, with Essendon interim coach Mark Thompson rumoured to be a possible replacement.

Suns chairman John Witheriff told media that he hadn't spoken to Thompson, and Thompson had not visited the club.

"In the coming days and weeks there will be announcements about a process, but one thing I can tell you is we will act professionally and with respect in setting up the process to select a new coach."

Thompson has not yet committed to staying at or leaving Essendon in 2015, but News Limited reported that he had been contsacted about the Suns job by a third party.

McKenna told reporters that the board felt he was not the right person for the job and he was disappointed not to have a chance to prove that he could do it.

"We didn't go into any great detail about the review." McKenna said.

"It was more around the club going forward and 'was I the right type of person to take the club forward ?' and from the board's and chairman's view, I'm not that person.

"I'm certainly disappointed with that result of course because I think I am and unfortunately I don't get an opportunity to prove the board wrong.

"... As a senior coach, assistant coach, player - no one's bigger than the club and so I respect John's decision. He makes those decisions in the greater interest of the football club so I respect that."

But he said it had been "a privilege to have coached this club for six years, to have built the club from nothing into something to be very proud of and I'll be looking on with great pride next season".

When asked if he had lost the players, McKenna said "no, I wouldn't have thought so".

McKenna said his understanding was that Suns wanted a coach with "premiership history and success", which he couldn't argue with, having not coached the Suns to the finals, despite coming close this year.

"They want a coach with premiership history and success," McKenna said.

"I haven't taken a group of players into finals, or finals contention. I would have thought we were pretty close going in this season, there were a few hiccups late in the season and I think next year we'll be well and truly on target to do that as well.

"But I can't aruge that because I haven't taken a group into that situation. There are other coaches who  clearly have and that's their decision."

Looking to the future, McKenna said he was still keen to be a coach.

"I haven't lost my ability to coach, I certainly haven't lost my passion," he said.

"I'd still love to do that. Clearly I'm not going to to do that at the Suns but I'm as keen and as eager as anything."

Gold Coast released a statement on Tuesday saying it and McKenna had "mutually and respectfully" agreed to part ways.

In the statement, Witheriff said McKenna had put the club first.

"Guy was naturally disappointed but, as he has done since being appointed in August 2008, he put the interests of the club and our future ambitions first," Witheriff said.

Witheriff paid tribute to McKenna: "Guy is a man with tremendous values and he will leave us knowing his legacy is our club's promising future.

"He has been paramount in installing our club's values - Bold, Fresh, Relentless, Community and Dependable. Those values are the guiding principles which our people live by every day.

"The fact that the Gold Coast Suns are now respected by our rivals in the AFL is due in no small part to the contribution Guy has made as our first senior coach," Witheriff said.

Former Sun Jared Brennan took to Twitter to share his reaction to the news.

So I just heard bluey got the flick....damn, a year late!!! In all seriousness though, 1/2 — Jared Brennan (@JJ_Brennan) October 1, 2014

feel for the players that didn't get the chance to develop and excel because of his stubbornness and one minded ways. 2/2 — Jared Brennan (@JJ_Brennan) October 1, 2014