Fabio Cannavaro has stepped down as head coach of Guangzhou as the Chinese Super League side continues to face an uncertain future.
The 48-year-old, who led Italy to success in the 2006 Word Cup, was in his second spell in charge of the club having returned in November 2017, two years after being replaced by Luiz Felipe Scolari.
He guided Guangzhou to the title in 2019 but his position was called into question following last year's runners-up finish.
He did not return to China last week, leading to speculation about his future with the club, which is owned by Evergrande. The embattled real estate company is struggling to avoid a default on billions of dollars of debt.
"We would like to thank Fabio Cannavaro for all of his effort and contribution to Guangzhou and wish him all the best in the future," the club said. "After friendly negotiation, Guangzhou Football Club decided to terminate the contract."
Australian Associated Press