Italy manager Cesare Prandelli announces retirement after 0-1 loss to Uruguay

In a shock move, Cesare Prandelli announced his retirement as manager of Italy after the team went out in a 0-1 loss to Uruguay. 

In a press conference after the match, he made reference to not wanting anyone to think he was "robbing the Italian tax payers," which prompted a host of questions from the assembled Italian press. The Italian Football Federation president Giancarlo Abete, who also announced his resignation after the loss, hoped Prandelli would change his mind. "When we get back, I will call a meeting with the Federation and hope he will withdraw it," Abete told reporters.

The news comes after a contract extension which would have seen Prandelli stay until Euro 2016. He insisted the decision was "irrevocable."