Carlo Ancelotti has been sacked as manager of Real Madrid after two seasons in charge of the Spanish club.
The Italian, 55, led Real Madrid to victory in the Spanish Cup before claiming the club's 10th European Cup last season.
But this year Real Madrid were knocked out by Juventus in the Champions League semi-finals, while Barcelona won La Liga.
Club president Florentino Perez told a news conference it had "not been an easy decision" before thanking Ancelotti and adding that a new manager would be appointed "next week".
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