IBTimes UK

England suffered a 2-1 defeat to Iceland in Round of 16 of Euro 2016 and the defeat saw the Three Lions crash out of the tournament. Roy Hodgson announced his decision to step down as the head coach of the national side after his side crashed out of the European championship in a disappointing manner.

Manchester United captain Wayne Rooney gave his side an early lead after he converted the penalty. Minutes later, Iceland equalised through Ragnar Sigurdsson goal before Kolbeinn Sigthorsson's winner – with a bit of help from Joe Hart – saw them beat England in the knockout stage of the Euro 2016.

Hodgson also confirmed he is joined by his assistants Ray Lewington and Gary Neville to step down from their respective positions.

"I'm extremely disappointed. We haven't progressed as far as I thought we were capable of and that's obviously not acceptable," Hodgson said during the post match press conference, as quoted by the FA's official website.

"I'm proud of the work my coaching staff and I have achieved during our time at the helm with England. The transition of the squad whose average age is 30 to now being the youngest in the tournament is both remarkable and exciting for the future of English football.

"I would have loved to have stayed on for another two years, however I am pragmatic and know that we are in the results business

"My contract was up after the Euros. So now is the time for someone else to oversee the progress of this young, hungry and extremely talented group of players. They have been fantastic and they have done everything that has been asked of them

"When I arrived I was told that players didn't turn up to play for their country, or that they pull out at the last minute but I've not seen any of that. These players love to play for their country and their commitment has been unquestionable.

"Ray Lewington and Gary Neville have asked me to speak on their behalf. They arrived with me as part of my coaching team and they'll leave with me. I'd like to thank them for their dedicated support and for the major part they've played in our team preparation.

"Finally, I'd like to thank all the support staff, players, The FA and of course the fans – it's been a fantastic journey these four years and it's one I'll look back on with pride. Finally I'd like to thank the media for the support that you've given me during those four years.

"I'm sorry it's had to end this way with another exit from a tournament but these things happen and all I can do is wish everybody all the very best and hope that you will still be able to see an England team in a final of a major tournament fairly soon...we've been unable to do it. Thank you very much."