Caretaker boss John Yems today said being sacked by Crawley was a "kick in the teeth."
Yems, who helped Reds secure Conference survival, was told the bad news by owners Chas and Azwar Majeed over the Bank Holiday weekend.
The Argus exclusively broke the news on its website yesterday.
Fellow caretaker managers Ben Judge and Dave Woozley, whose playing contracts have expired along with the majority of the squad, are expected to have their futures decided in the next few days.
The axe comes in the week when the Majeeds are due to pay off the club's remaining debts. Crawley could be expelled from the Conference if they fail to come up with the cash.
The Majeeds also sacked former manager John Hollins on the eve of the previous deadline to repay creditors last November, which they failed to meet.
They claim the money will be paid this time but are believed to have been in take-over talks with interested parties.
Yems said: "I am gutted and it is a real kick in the teeth because I don't know what more we could have done.
"I was told it was because of results but I think it is probably more to it than that, although I don't know what it is.
"I will get over it because I have been in football long enough to know these things happen but it is very disappointing that it turned out this way after all we've been through."
Yems was appointed until the end of the season along with Judge and Woozley after Hollins' departure.
They were given the task of keeping Crawley in the Conference and achieved it by two points on the last day of the campaign, despite starting the season with a ten-point deduction after going i nto administration.
Yems said: "They (the Majeeds) said that we were lucky to stay up but that is not true. I have had lots of top football people phone me up saying what a good job we have done under the circumstances.
"We had one of the smallest squads in the Conference and we got the most points the club has ever got in this division.
"If it hadn't been for the ten point deduction at the start of the season, we would have been in the top half of the table.
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