Valencia have sacked coach Quique Sanchez Flores following the side’s 3-0 defeat at Sevilla.
Despite the defeat, Valancia remain fourth in the Primera Liga, only four points behind leaders Real Madrid.
The club said on their Web site that reserve team boss Oscar Fernandez would take charge of the team untila permanent successor has been appointed.
Earlier in the week the team slipped to a surprise 2-0 defeat away to Rosenborg in the Champions League and are in third place in Group B, four points behind leaders Chelsea.
Valencia said club president Juan Soler would explain the decision to the players at training and that he and Sanchez Flores would give separate news conferences later on Monday.
Sanchez Flores took charge of Valencia at the start of the 2005-06 season following a successful spell in charge of Primera Liga outfit Getafe.
He steered Valencia to a third-place finish in the league in his first season in charge and fourth place last term, despite losing several key players for long periods through injury. However his conservative style of play did not endear him to the club’s nostoriously fickle supporters.