The club have had three coaches already this season, and they will now pursue a search for a fourth.
President Dimitar Borisov said that “we had no choice but to act after the negative results in the past weeks.”
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The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.
Five English clubs will compete in the last sixteen of the Champions League for the first time ever as Liverpool, Manchester United, Manchester City, Chelsea and Tottenham face some difficult away matches.