Xabi Alonso has released a statement after his bombshell Real Madrid exit just eight months in the role.
The 44-year-old's tenure came to an abrupt end in the wake of Sunday's Spanish Super Cup final defeat to Barcelona, a result that proved the final straw for the club's hierarchy.
His former Liverpool teammate Alvaro Arbeloa was hired as his successor.
Following the mutual agreement to leave the club, Alonso released a statement, describing the role as an "honour".
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He said: "This professional stage is over, and it didn’t go as we would have liked.
"Coaching Real Madrid has been an honour and a responsibility.
"I thank the club, the players and above all the fans and Madrid fans for their trust and support.
"I leave with respect, gratitude, and pride that I did my best."
Real Madrid president Florentino Perez has decided to sack Xabi Alonso | REUTERSReal currently occupy second place in La Liga, trailing their rivals Barcelona by four points.
Despite recording an impressive 71 per cent win rate during his spell in charge, Alonso's reign was punctuated by several damaging results that ultimately sealed his fate.
The former midfielder secured victory in 24 of his 34 matches at the Bernabeu, yet supporters turned on the team following a loss to Celta Vigo last month, with fans booing the players from the pitch.
A humiliating 5-2 thrashing by city rivals Atletico Madrid in September compounded matters, whilst defeats to both Liverpool and Manchester City in the Champions League further undermined his standing.
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Xabi Alonso was only hired last summer, failing to last one year at Real Madrid | REUTERSThe club released a statement expressing their gratitude to the departing manager whilst acknowledging his status within the institution.
The statement read: "Xabi Alonso will always have the affection and admiration of all Madrid fans because he is a Real Madrid legend and has always represented the values of our club.
"Real Madrid will always be his home.
"Our club thanks Xabi Alonso and his entire technical team for their work and dedication during this time, and wishes them the best of luck in this new stage of their lives."
Alvaro Arbeloa has been promoted to head coach after Xabi Alonso's dismissal | INSTAGRAMAlonso’s departure will likely prompt interest from across the Premier League, with the former Liverpool midfielder still considered among some of the best managers in the world.
Liverpool’s Arne Slot will likely feel the pressure as he has faced mounting criticism over his side's performances.
Manchester United are also in the market for a full-time manager following the appointment of interim manager Michael Carrick until the end of the season.
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