Gary Neville has been sacked as first-team coach of Valencia after less than four months in charge.
The former Manchester United full-back took on his first managerial role in December but managed to win just three of his 16 La Liga matches with Los Che.
He has been replaced by former Liverpool coach Pako Ayestaran, who also previously worked at Valencia between 2001 and 2004, until the end of the season.
In a statement this afternoon, Valencia said: "After carefully analysing the sporting situation, the club has decided to make this change in the best interest for the Valencia Football Club overlooking the end of this season.
"The club thanks Gary Neville for his work and wishes him the best of luck in the future."
Neville also released a short statement, which read: "I would like to thank Valencia Football Club, the fans, staff and the players. I would have liked to have continued the work I started but understand that we are in a results business and in the 28 games they have not been to my standards or to those which are required by this club."
Valencia are 14th in Spain's top flight, just six points above the drop zone.
Pascal Lemesre
