John Maggs has described his time at Horsham as among the best in his career.

Maggs’ 11-year reign as Hornets boss came to an end last night.

His contract, which runs out at the end of May, is not being renewed as part of substantial financial cuts in the playing budget for next season.

Chairman Kevin Borrett revealed in a statement the club can no longer sustain the losses incurred while waiting to be relocated to a new ground.

Horsham moved out of Queen Street in 2007. They spent a year sharing with Worthing and have been tenants at Horsham YMCA in the last two seasons.

With a new ground not likely until at least 2013-14, the club have decided to act and felt they were unable to retain Maggs, who was full-time at the club.

Maggs, 67, had wanted to stay after presiding over a successful period in the club’s history which included two promotions and an appearance in the first round of the FA Cup where they lost in a televised replay away to Swansea City in 2008.

He said: “It is with much regret that my time at Horsham Football Club has come to an end. Chairman Kevin Borrett has fully explained the position the club finds itself in and has outlined the future for the next couple of seasons.

“I accept that finances are not there to support what has been in place in the past. The last three seasons have been really challenging with the cuts that have been imposed.

“I leave with the club still playing Ryman premier league football, the highest level the club has had in its history, but I feel until a new home is found it will continue to be a struggle.

“My years as Horsham manager have been some of the best times in my football career. The club has something special about it and there are some really nice people who work really hard.

“As for the supporters, they are truly the best. As for the players who have played for me, I have been very fortunate and lucky to have such loyalty and quality.

“The affection and passion I have for Horsham Football Club, its players and supporters will always remain with me. The club must now move on and I wish them well in these difficult times.”

Borrett revealed the club would now be looking for a manager who would be prepared to work with the under-18 squad together with a sprinkling of senior players.

He said: “Horsham FC can no longer sustain annual financial losses at the level run up over the past six seasons while waiting for the new ground to come to fruition.

“Delays beyond any means of our control have meant that instead of being relocated in our new ground by now as planned for we have to budget for at least another two seasons ground-sharing.”