Arsenal head coach Unai Emery has been sacked after a disappointing start to the season, 18 months after succeeding Arsene Wenger.
Wolves boss Nuno Espirito Santo is the early favourite to replace the 48-year-old Spaniard at the famous north London club.
Former midfielder Freddie Ljungberg, who became Emery’s assistant in the summer, will take charge on an interim basis.
Results and performances have not been “at the level required”, the club said, adding that the search for a replacement was “underway”.
Other names being mentioned include Manchester City coach and former Arsenal player Mikel Arteta, and ex Tottenham boss Mauricio Pochettino, who was recently replaced by Jose Mourinho.
The Gunners have not won since 24 October, and there were boos at the Emirates Stadium after last Saturday’s 2-2 draw with Southampton in the Premier League.