In a statement issued this afternoon, The Guardian confirmed that its contract with Atkinson was at an end.
"Our contract with Ron Atkinson to write a weekly football column and
tactical chalkboard has been terminated with immediate effect by mutual
agreement."
The remark had already cost him his £200,000 a year job with ITV, from which he resigned last night, where he was one of the broadcaster's top commentators.
The remark about a black player was made after the ITV coverage had gone off air but was heard on a channel in the Middle East, which carried the live feed.
Atkinson, who is a former manager of Manchester United, referred to Chelsea captain Marcel Desailly as a "fucking lazy n" after the London team's 3-1 first-leg away defeat in the principality.
A spokesman for ITV confirmed that the comment had been made off air and was not broadcast in the UK and said it in no way condoned the comments.
"It was a regrettable lapse by a respected and experienced broadcaster, who has been part of the ITV sports team for many years.
"We have discussed the situation with Ron Atkinson, who is devastated and very sorry for any offence caused by his comments. He immediately offered his resignation, which we have accepted."
In a statement, Atkinson said: "I made a stupid mistake, which I regret. I can't believe I did it. It was just a moment of stupidity."
Atkinson enjoyed a long career as a player, beginning at Aston Villa in 1956 and also playing at Oxford United, before going on to manage West Bromwich Albion, Man Utd and Atletico Madrid.
The 65-year-old, who has commentated on five World Cup tournaments, said he could not believe what he did.
"I was very frustrated at the end of the game because I thought Chelsea could have won. I regret making the comments and I apologise to anyone I may have offended," he said.
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