Jose Mourinho has emerged as the heavy favourite to become the new Tottenham manager after Mauricio Pochettino was sacked on Tuesday night.
Pochettino was dismissed less than six months after he took Spurs to the Champions League final, with former Chelsea and Manchester United boss Mourinho reportedly waiting in the wings.
Spurs chairman Daniel Levy pointed to an "extremely disappointing" run of Premier League form for the reasoning behind Pochettino, who left along with his coaching staff, losing his job.
The 47-year-old leaves Tottenham 14th in the table and with just three wins from their opening 12 games of the Premier League campaign.
Levy said on the club's official website: "We were extremely reluctant to make this change and it is not a decision the board have taken lightly, nor in haste.
"Regrettably domestic results at the end of last season and the beginning of this season have been extremely disappointing.
"It falls on the board to make the difficult decisions – this one made more so given the many memorable moments we have had with Mauricio and his coaching staff – but we do so in the club's best interests.
"Mauricio and his coaching staff will always be a part of our history. I have the utmost admiration for the manner in which he dealt with the difficult times away from a home ground while we built the new stadium and for the warmth and positivity he brought to us.
"I should like to thank him and his coaching staff for all they have contributed. They will always be welcome here.
"We have a talented squad. We need to re-energise and look to deliver a positive season for all of our supporters."
Dele Alli was the first current player to react to Pochettino's departure, praising the Argentinian for the influence on his career to date.
"I can't thank this man enough. He's taught me so much and I'm so grateful for everything he's done for me. Good luck and hope to see you again my friend," he posted on Twitter.
It now remains to be seen who Alli will be working with next and, with the Tottenham statement saying a new coaching team would be announced "in due course", Mourinho is already being touted as his successor.
Some reports suggest an agreement is close for the 56-year-old to replace Pochettino at the Tottenham Hotspur Stadium, with a London derby against West Ham coming up on Saturday.
The Portuguese won three Premier League titles over two spells in charge of Chelsea and returned to England to manage Manchester United in 2016.
He was sacked last December following a poor run of results and has been out of work since, most recently working as a pundit for Sky Sports.