Spanish club Valencia sacked coach Gennaro Gattuso on Monday following the team's poor results.
Valencia said in a statement they reached a mutual agreement with Gattuso to terminate his contract.
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The announcement came after a 1-0 loss at Valladolid in the LaLiga on Sunday, with the club having just one victory in their last 10 league games going back to before the World Cup.
The latest defeat dropped Valencia to 14th place, one point above the relegation zone.
Valencia's only two wins this year came in the Copa del Rey, though they were eliminated in the quarterfinals by Athletic Bilbao at home last week. In the Spanish Super Cup, Valencia lost to Real Madrid in a penalty shootout in the semifinals.
The former defensive midfielder helped Italy win the 2006 World Cup and AC Milan win two Champions League titles, both as a player. He coached Milan and Napoli in Italy.
Valencia did not announce a replacement for Gattuso, who arrived last June on a two-year contract, but said the team would return to training on Jan. 31 under the direction of former interim coach "Voro" Gonzalez.
