He said: "We've tried to give Alan as much support as we can and bent over backwards to get the players in he wanted. Every player he asked for since we've been in, bar one, we've got it for him and its come to a head this week that we had to make a very tough decision."
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"Obviously we have enough games to get out of relegation, but if Mark (Robins) was to do that I think he'd get the keys to the town. It would be nothing short of a mini miracle. We will give him all the support we can as we have done Alan and we'll not give up hope until its impossible for us to stop up.
"But, we are realists aswell and we are already looking at next season."
Asked when he made the decision and broke the news: "I spoke to Mark last night and asked if he would mind taking charge of Saturday. Obviously he has been very busy this morning with a training session to take so we haven't even sat down and had a chat yet long term.
"As a board we'll not rush into any rash decisions - its a big decision for the future of the club so we'll just look at what happens - our phones have already been red hot and its amazing how many managers out there are looking for jobs. We will take our time and get it right for Rotherham."
Mark Robins was then asked his thoughts on taking temporary charge: "Like the Chairman says, its a terrible thing as another man has lost his job.
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Robbo then went on to add his praise for the departing gaffer: "I've left a message for Alan and tried to ring him but not spoke to him as yet. I'm very sad. He worked tirelessly to try and change fortunes around. Earlier on in the season results were going great, but unfortunately its just not been possible.
"I like a team to play football - that's how I was brought up at the best club in the world (Man Utd). That's how I see the game being played. You have to try and do whats best for those group of players."
The press then drew their attention back to Coleman, asking him about his meeting with Knill prior to the Swansea game on Tuesday night.
"We had a three hour meeting and discussed all sorts", he said. "Things that were said in the media last week I think gave false impressions of how we've backed the manager and I wasn't entirely happy with them. I wanted Alan's views on whats happened over the season and also his thoughts for next year, what he wanted, and expectations - then obviously we had another bad result on Tuesday night and as I say we spent probably the best part of nine hours yesterday with the rest of the board discussing where we were on things and how we thought the club was moving.
"About 7pm last night we made the decision - which was a tough decision. But its one we felt we had to make, if its right or wrong only time will tell.
"We've always said just get out there and do your best, Alan's not stupid and always knew the pressure was on him, football's all about results. We've won one in 19 and I think we've been very patient in that period, we just felt it couldn't go on any longer. We couldn't see where a win was coming from.
"Some people will question everything you do, only time will tell if things are right or wrong. I think some players need to take a look in the mirror who haven't performed so good of late. Lets hope its a fresh start for them now - we'll see as they are all playing for contracts, whether its here or somewhere else.
"If they don't perform, we won't want them and others won't want them, so thats the game they are in. I met them this morning with Mark and had a quick chat with them but over the next week i'm going to have a one on one with each of them and gather their thoughts in private - how they feel about this club and if they want to be at this football club.
"Ultimately, it will be what I see on the pitch that decides their futures."