Failing to gel a slew of expensive signings cost Andre Villas-Boas his job as Tottenham manager.
Villas-Boas' 17-month spell at White Hart Lane came to an end Monday, a day after Tottenham slumped to a 5-0 home loss to Liverpool and left the team seventh in the Premier League.
Tottenham was also humbled 6-0 by Manchester City last month and 3-0 by West Ham in October, exposing the shortcomings of a side that has had problems scoring despite an offseason outlay of around 107 million pounds ($174 million) on mostly attacking players.
"The club can announce that agreement has been reached with head coach, Andre Villas-Boas, for the termination of his services," Tottenham said in a statement. "The decision was by mutual consent and in the interests of all parties."
Spurs haven't looked the same this season without Gareth Bale, whose record move to Real Madrid for 100 million euros ($132 million) allowed the club to embark on a spending spree that brought in seven players, including Roberto Soldado, Paulinho, Erik Lamela and Christian Eriksen.
Bale won many games almost single-handedly for Tottenham last season, scoring 21 goals and being voted English football's player of the year.
Villas-Boas departs despite having the best win percentage (53.7) in the league of any Spurs manager in the Premier League era, and further sullies his reputation in England after being fired eight months into a spell at Chelsea in the 2011-12 season. The Portuguese coach was halfway through a three-year contract at Tottenham.
"This is a top-four squad but in our Premier League form, we are not there," the 36-year-old Villas-Boas said after the Liverpool match, when he pledged that he wouldn't resign. "We admit that in the Premier League things aren't going in any shape or form the way we want."
Villas-Boas is the fifth Premier League manager to lose his job this season, after Paolo Di Canio (Sunderland), Ian Holloway (Crystal Palace), Martin Jol (Fulham) and Steve Clarke (West Bromwich Albion).