Bayern lost 5-1 to Kovac’s former club, Eintracht Frankfurt, at the weekend leaving them fourth in the Bundesliga, four points behind leaders Borussia Monchengladbach.
They've lost twice in the league and have conceded more goals than any other side in the top half.
That’s despite the Bavarian’s incredible 7-2 victory over Tottenham last month in the Champions League.
Jose Mourinho is currently the favourite to take over.
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Interestingly, a club statement claimed that Kovac had actually resigned, rather than be sacked.
A statement on the club's website read: "Niko Kovac is no longer coach of Bayern Munich. This is what Uli Hoeneß, president of FC Bayern, Karl-Heinz Rummenigge, CEO of FC Bayern, Hasan Salihamidzic, sports director of FC Bayern, has agreed with Niko Kovac this Sunday by mutual agreement. Kovač had offered to FC Bayern Munich his resignation as coach.
Rummenigge said: "The performance of our team in recent weeks and the results have shown us that there was need for action. Uli Hoeneß, Hasan Salihamidžić and I have an open and serious conversation with Niko on this basis on Sunday with the consensual result that Niko is no longer coach of Bayern. We all regret this development. I would like to thank Niko Kovač on behalf of FC Bayern for his work, especially for winning the doubles this past season."
Assistant coach Hans Flick will be in charge of Bayern's matches against Olympiakos in midweek and the massive Bundesliga clash against Borussia Dortmund next Saturday.
"I now expect a positive development from our players and absolute motivation to achieve our goals for this season," added Salihamidzic.
Meanwhile, Kovac said: "I think this is the right decision for the club at the moment. The results, and also the way we last played, made me come to that decision. My brother Robert and I thank Bayern for the last one and a half years. During this time, our team has won the championship, the DFB Cup and the Supercup. It was a good time. I wish the club and the team all the best."News Now - Sport News