Barry Fry’s 16-year spell on the Peterborough United board came to end on February 1, the day after he was fined £35,000 and banned for four months by the Football Association for breaking its rules against betting.

The ‘termination of appointment’ notice was posted on the Companies House website on Friday, two days after the FA released the written reasons for the 73-year-old’s punishment.

Fry first joined Peterborough’s board in the unusual role of chairman-manager in 1996, before standing down as chairman a year later. He returned to the board in 2003 and, having served nine years in the dugout, became director of football in 2005.

The larger-than-life character, who was a youth team player at Manchester United, was charged by the FA in December for placing bets on striker Jack Marriott finishing as League One’s top scorer last season and Posh to gain promotion.

Fry told the FA disciplinary hearing that these bets were not for personal gain but were to cover bonus payments for which the club was liable.

As it happened, Marriott, now scoring goals for Derby County, did finish as League One’s top scorer and Fry covered his £25,000 bonus with that £500 each-way bet he placed in a Coral bookmakers in Bedford.

The £4,000 of club cash he wagered on Peterborough to go up, however, did not come off, as Posh finished ninth, but equally there was no need to pay the players any bonuses.

Fry told the panel he knew he had “been a prat” and the panel did not disagree, as the betting ban on anyone involved in the professional game is very well established.

But the panel did acknowledge that Fry had admitted the offence immediately, the bets were intended as a form of insurance and he has offered to take part in gambling awareness campaigns in the future.

As a result of these mitigating factors, the former Barnet, Birmingham and Southend manager had three months of his ban from footballing activities suspended for two years, meaning he is eligible to return to the game in March.