Valencia have parted company with Gary Neville, the club have confirmed. Neville, 41, leaves his first managerial post after just four months in charge.
His assistant Pako Ayestaran will take charge of the club for the remainder of the 2015-16 season. Valencia are yet to confirm the fate of Phil Neville, a member of his older brother's coaching team.
A short statement read: "Valencia Football Club has today terminated its contractual relationship with Gary Neville as first team coach. 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 took over at the Mestalla to replace outgoing boss Nuno Espirito Santo in what was his first job in management in December 2015. His reign in charge has been an unprecedented disaster for the club and the man who appointed him, club owner Peter Lim, however.
Upon his appointment, Valencia sat ninth in La Liga, just five points off the Champions League places. But under the former Manchester United defender, Valencia crashed out of the Champions League and Europa League and leaves the club just six points clear of the relegation zone with eight games of the season remaining. During his 28 games in charge at the club, Neville led Valencia to 10 wins, with only three of those coming in the league.
A statement from Neville 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 28 games they have not been to my standards or to those which are required by this club."
While Neville has been highly regarded in football for his role as a pundit and coaching within the England set-up, his appointment at Valencia was met with widespread surprise. The Spanish club waited until 14 February for their first league win under his leadership – 73 days on from his appointment. While his tenure was briefly sparked back into life by a 10-0 aggregate victory over Rapid Vienna in the Europa League knock-out phase, the club's dire league record has ultimately sealed his fate.