Valencia announced on Monday that coach Gennaro Gattuso was leaving the club.
The club said that the two sides “have decided by mutual agreement to terminate the contractual relationship”.
After losing 1-0 to Valladolid on Sunday, Valencia are 14th in La Liga, one point above the relegation places.
“It is clear that I am responsible for this,” Gattuso said on Sunday after the defeat.
Spanish media said that Gattuso had been frustrated by the lack of transfer activity by the club and met with club’s top management on Monday.
Gattuso, a defensive midfielder who played 73 times for Italy, first became a head coach in 2013 with Sion in Switzerland.
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