Hibernian midfielder John Rankin claimed Mixu Paatelainen's resignation had come as a "bolt from the blue."

The Finn announced his decision to step down on Friday night despite leading Hibs into the top six of the Clydesdale Bank Premier League for the second season running.

"This has blown me away," Rankin told the Scottish Sun. "I don't know where this decision has come from and it's a major surprise to me."

Paatelainen admitted earlier in the week his budget had been cut and the club would find it difficult to replace top players if they were sold on.

But the news still came as a shock to former Inverness midfielder Rankin.

"There was a lot of optimism because of the way we finished the season. We drew with both halves of the Old Firm and beat Hearts at Tynecastle," he added.

"That showed there was potential, depth in the squad and everyone was looking to kick on from that.

"I am very sorry to see Mixu go.

"He had enough faith in me to bring me to Hibs and I will always be grateful to him for that."

Paatelainen followed Gordon Strachan and Jimmy Calderwood in leaving Clydesdale Bank Premier League clubs in the last seven days as Celtic and Aberdeen also hunt new managers.