Braga, who guided the team to the title last season, had presided over a five game losing streak which left them in danger of relegation.
“If I was a director I also would have changed coach. Thank you all, without exception… for giving me these moments. They were 26 months, something rare in Brazilian football,” said Braga.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.