MIXU PAATELAINEN is believed to have been sacked by Dundee United and former Tannadice favourite Ray McKinnon is now favourite to replace him.

The Finn has not been given the chance he so desperately wanted to rebuild the club following a meeting with United chairman Stephen Thompson, which came less than 24 hours after defeat in the Dundee derby confirmed their relegation from the Ladbrokes Scottish Premier Premiership.

Paatelainen won just five of 25 league games after replacing Jackie McNamara in October.

The decision was expected to be confirmed on Tuesday afternoon but then at 4pm Thomson released an apologetic statement about the state of the club without mentioning Paatelainen once.

It read: "Dundee United have let you, the supporters, down this season. I apologise unreservedly to all of you for our relegation from the Ladbrokes Premiership.

“As the chairman, the buck stops with me and I accept full responsibility for what has happened. The big decisions were mine and I got some of them wrong.

“I have backed managers with the third biggest budget in the league but the results have not been acceptable. In the near future many radical changes will be made to try to ensure our quick return to the top league.

“Further changes will see increased fan representation as well as boardroom changes to re-vitalise and re-energise the club.

“There will also be much better, more regular, more open and transparent communication with you, the fans, who are the lifeblood of Dundee United.

“I am currently seeking fresh investment in the club which may in time lead to me standing aside, and I aim to strengthen our current financial position to launch a bid for an immediate return to the top flight.

“I understand calls for change and am open to realistic well-funded proposals that can bring in major investment.

“However, with the serious financial challenges we face in the Championship, I will not put the club’s existence in peril by simply handing over the keys unless any proposed investor is well financed and can offer a sustainable alternative.

“The board has worked over a period of time to review and restructure the club.

“Financially, there will be a substantial drop in income due to relegation that will mean cost reductions across the club.

“These include both on and off-field operations that will be implemented after consultation with employees.”

“I am determined to return this club to the top of Scottish football as soon as possible and once again offer every United supporter my unreserved apologies for what has happened on my watch.

“I ask you now for your continued support: already over 1,100 have renewed your season ticket during our loyalty period and I thank you for this excellent take-up.

“It has never been more sorely needed as the job of rebuilding this great club for the future begins in earnest.”

Despite this rather bizarre statement, Paatelainen's days are numbered and Raith Rovers manager McKinnon, who has steered the Kirkcaldy club into the Premiership play-off places, is believed to be United's first choice.

But Raith will not allow their manager to leave and, speaking to the Courier newspaper, club chief executive Eric Drysdale warned against any approach.

"Ray is under contract and is the Raith Rovers manager. That’s the way we want it to stay," he said. "We won’t entertain any approach at the moment.”

Paatelainen was in defiant mood even after losing to Dundee at Dens Park on Monday night.

"This is a club close to my heart and I am more than motivated to do it, I am desperate to do it," Paatelainen said. "We've got the knowledge of what needs doing with players and other issues. Only a fool would put that to waste."