Carlo Ancelotti has been fired as manager of Bayern Munich following their 3-0 defeat to Paris Saint-Germain.

Ancelotti was dismissed after meeting with the board on Thursday. Ancelotti won the Bundesliga in his first season with Bayern.

“The performance of our team since the start of the season did not meet the expectations we put on them,” said chief executive Karl-Heinz Rummenigge. “The game in Paris clearly showed that we had to draw consequences. [Sporting director] Hasan Salihamidzic and I had an open and serious discussion with Carlo today and informed him of our decision. “I would like to thank Carlo for his cooperation and regret what has happened. Carlo is my friend and will remain so, but we had to make a professional decision for the benefit of FC Bayern. I now expect the team to have a positive development and absolute performance, so we can reach our goals for this season.”

Ancelotti’s assistant Willy Sagnol, former Borussia Dortmund manager Thomas Tuchel and Hoffenheim’s Julian Nagelsmann are among the early favourites to succeed him.