Blackpool have announced that Karl Oyston has resigned as chairman and a director of the newly promoted Premier League club with immediate effect.
Oyston will stay on as acting chief executive until the end of the season or until a replacement is found.
The club emphasised that his departure would not affect player recruitment or the upgrade of Bloomfield Road.
Oyston, 43, has previously admitted to being disillusioned with player agents' influence in the Premier League.
He revealed earlier in August that he had told the club's board that he would resign if they disagreed with his approach to the club's return to the top flight.
Oyston has been determined to keep the Seasiders' spending under control after they overcame Cardiff in the Championship play-off final and is reported to have imposed a £10,000-a-week wage limit on the squad.
Even in the aftermath of his team's 4-0 win away at Wigan in their opening league game on Saturday, Oyston insisted that his offer to stand down was still there.
"I expected the way people behaved to be different and I have been very disappointed in the way some agents have conducted themselves," he told the Independent newspaper.
"The more I talk to other Premier League clubs the more I realise I am a lone voice."
Despite the allure of top-flight football, manager Ian Holloway has found it hard to attract some of his targets to the club under Oyston's financial restrictions.
Striker DJ Campbell, whose goals saw off Nottingham Forest in the play-off semi-final, returned to Leicester at the end of his loan spell, while free agent Robert Koren opted to move to Hull.
The club have however signed Craig Cathcart, Marlon Harewood, Elliot Grandin, Malaury Martin, Ludovic Sylvestre, Chris Basham and Dekel Keinan.
Oyston's father, Owen, remains as majority shareholder at the club.
http://news.bbc.co.uk/sport1/hi/football/teams/b/blackpool/8925912.stm
