John Hughes has left his position as manager of Inverness CT following a dispute with the club's board over his player budget.

STV revealed the former Falkirk and Hibernian coach's future was in doubt on Tuesday as he remained at loggerheads with the Highlanders' hierarchy over cash for new players.

Now Hughes has departed just a year after the leading Inverness to Scottish Cup glory and a third place finish in the Scottish Premiership.

In a statement, he said: "I will look back on my time at ICTFC and in the Highlands with a genuine fondness and warm affection for the club, the area and the community."

"The welcome I received from the fans and the response I got from the players throughout my two and a half years there will live long in the memory as will everything else we shared in some of the ground-breaking successes we all enjoyed together during that period."

"I can honestly say I enjoyed every minute of my time at the club and I would like to sincerely thank the Inverness directors for affording me the privilege of managing what is, a fine football club. My gratitude goes out to every member of staff who also offered me so much personal support in my time there.

"I can readily assure my successor that they will inherit an excellent group of players and to each and every one of them could I also say a huge thanks for making my time with them so successful and so memorable - I wish them and the club every success in the future."

In recent weeks Hughes has made a number of public comments expressing frustration at what he feels is a limited budget.

Last month the board defended the amount of cash made available for the playing squad in 2015/16, claiming Hughes had benefited from the biggest budget in the club's history.

A statement on behalf of board read: "All of us at ICTFC would like to take this opportunity to thank John for his contribution since joining us in December 2013 and specifically his coaching skills and commitment, which helped deliver our successes, and in particular lifting the Scottish Cup for the first time in the club's history as well as our first foray into European club football.

"John will be remembered here at ICTFC as a member of a great winning team and we wish him every success going forward."