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Published 08:43 3 Nov 2015 GMT
Updated 12:07 3 Nov 2015 GMT
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'Prior to the start of the season, it was agreed with the coaching team that the securing of a playoff place was an appropriate target for this year,' the club said in a statement.
'A win rate of less than one in three games and a points tally which was the second lowest in the league is clearly not in line with the targets that were agreed. '
NYCFC finished 17th of 20 teams, tied on points with the two teams immediately below them, and ended the campaign 12 points adrift of the lowest-placed team to make the playoffs.
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