Guus Hiddink
Hiddink is hoping to stay working in football. Reuters

The Turkish Football Federation have terminated Guus Hiddink's contract by mutual consent, after the manager failed to qualify for the 2012 Euro tournament.

Tuesday night, Turkey drew 0-0 with Croatia, and with a 3-0 loss to the club in the first leg under their belt, they were kicked out of the competition.

And this morning the Federation confirmed that Hiddink would no longer be in charge of the international side as of today.

Hiddink blamed a lack of youth development as part of the problem behind why Turkey were so disappointing in their qualification for the tournament.

The Dutchman telling reporters: "All national teams representing a country, starting with the Under-14 side up to the senior level, depend on how the clubs are organised and how seriously they take the education of young players from the age of 10.

"In countries like Germany and Holland, this system is highly developed and the results are obvious.

"Holland is a small country but the national team is always in the big tournaments, with the solitary exception of the 2002 World Cup, because young players are getting a lot of chances to play for their clubs and are well educated.

"On the other hand, only one or two players from Turkey's Under-19 and Under-21 sides have come through to senior level and while in those countries it's a reliable process, in Turkey it's an exception.

"Turkey has a lot of potential but will only take part in big tournaments more frequently if the system is organised in a better way, because the foundation must lie in the clubs and be 100 per cent efficient."

Hiddink has discussed the possibility of returning to managing in England - the 65-year-old is a close friend of Roman Abramovich, and was favourite to take over the top job at Chelsea in the summer before Andre Villas-Boas was chosen.

"I've not made up my mind about the future yet," Hiddink said. "I'm going to take some time off and then we will see what happens, but I had a wonderful time in England.

"It was great at Chelsea, a terrific time, but that doesn't mean I am ready to start tomorrow. I need some time to reflect.

"I'm not ready to retire, I like to be involved with a team on a daily basis, but maybe I am ready to step out of the limelight a little bit, away from the cameras. Hopefully I will still be involved but perhaps it will be as an adviser or a consultant."

Chelsea would certainly consider Hiddink for a consultancy role alongside Villas-Boas, depending on how the Blues manager goes in his first season in charge of a Premier League team.