Real Madrid released a statement about Julen Lopetegui 24 hours after the humiliating 5-1 defeat to Barcelona.
"The Real Madrid C.F. board of directors, which met today, 29 October 2018, has made the decision to terminate Julen Lopetegui’s contract as the club’s coach.
"The board considers there to be a large disparity between the quality within the Real Madrid squad, which boasts eight nominees for the next Ballon d’Or award - an unprecedented number in the club’s history - and the team’s results to date.
"The club places on record its thanks to Julen Lopetegui and all of his coaching staff for their efforts and work and wishes them all the best in their future careers."
The 52-year-old coach, who was drafted in to replace Zinedine Zidane, has been sacked twice in the space of five months.
Lopetegui was sensationally fired by Spain on the eve of the 2018 World Cup.
Losing Cristiano Ronaldo to Juventus and failing to adequately replace him appears to have cost Lopetegui his job in Madrid.
Mariano's classy tweet
Striker Mariano Diaz has made just one start in all competitions since returning to Real Madrid in a £30m deal this summer.
The former Lyon star has been used sparingly by Lopetegui - but was the first Real Madrid player to send a message on social media in the wake of his dismissal.
"I will always be thankful to Julen Lopetegui, one of the people who made it possible for me to come back to my house," wrote Mariano on Twitter.
"I wish you the best for the future. Now all we have to do is fight more than ever to get out of this situation."
After the club were criticised for their "tasteless" statement on Monday night, Real Madrid fans on Twitter were full of praise for Mariano.
Mariano will certainly be hoping to get more opportunities under his new boss.
Santiago Solari will take temporary charge of first-team affairs following Lopetegui's sacking - and his reign begins on Wednesday night away at Melilla in the Copa del Rey.
Former Chelsea boss Antonio Conte is the bookies favourite to get the Real Madrid job on a permanent basis.