The Italian side, bottom of Serie A, acted to remove him just two games into his latest spell at the club.
He is replaced by Guiseppe Sannino, who himself was fired earlier this season by Palermo.
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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.