Carlo Ancelotti has been sacked as manager of Real Madrid after two seasons in charge of the Spanish club.
The Italian, 55, led Real to victory in the Spanish Cup before claiming the club's 10th European Cup last season.
But this year they were knocked out by Juventus in the Champions League semi-finals, while Barcelona won La Liga
Real Madrid Club president Florentino Perez told it had "not been an easy decision" before thanking Ancelotti and adding that a new manager would be appointed "next week".
"What did Ancelotti do wrong? I don't know," Perez added. "The demands here at Real Madrid are very high. The affection that the players and the fans have for Carlo is the same as the affection I myself have for him."
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