Juan Antonio Pizzi has been relieved of his managerial duties with Valencia.

The 46-year-old, who took charge of Los Che last December, led the former Spanish champions to the Europa League final last season and an eighth-place finish in La Liga.

However, rumours that Valencia were preparing a managerial change gathered pace earlier this week and it has now been confirmed that the Spaniard has left his position in charge.

Valencia are expected to have a significant transfer kitty this summer when Singaporean businessman Peter Lim eventually completes his takeover.

Pizzi had previously been in charge of San Lorenzo.