Holloway leaves Palace by mutual consent

London, England (SportsNetwork.com) - Ian Holloway became the second manager in the Premier League to lose his job after he left Crystal Palace by mutual consent on Wednesday.

Sunderland's Paolo Di Canio was sacked at the beginning of the month with his team rooted to the foot of the table. And now Holloway departs after guiding Palace to just one win from its first eight games, leaving the club in 19th place.

Following a 4-1 home defeat to Fulham on Monday talks were held between Holloway and Palace co-chairman Steve Parish, with both sides agreeing that a change was in order.

"Part of my talking with Steve was about am I the one with the energy left," Holloway said. "I have to hold my hand up and say we didn't keep the spirit that got us up. We changed too much too quickly. Someone new coming in now with a tad more experience at this level will have 30 games left."

The 50-year-old Holloway guided Palace to promotion through the playoffs last season after joining from Blackpool in November 2012.

But after signing 14 new players prior to the start of this season, the club has lost seven of its first eight games and appears headed for a long battle against relegation.

"Maybe we tried to move things on too quickly," Parish said. "We both realized we need someone with more experience at this level. We've got a whole group of people who are only really used to the Championship and dropped them into the Premier League. We've never fallen out. Ian felt that a new approach might help keep us in the division."