Juan Carlos Garrido was on Thursday sacked as coach of Spanish league strugglers Villarreal following their elimination from the Kings Cup at the hands of second division Mirandes.
Garrido said he has accepted the decision and was expecting the axe to fall as Villarreal endure one of their most dismal seasons in recent years.
He has been replaced by Villarreal's reserves coach Jose Molina, the club announced later.
Villarreal are languishing in 17th spot in Spain's La Liga and exited the Champions League after finishing bottom of Group A with no points.
"It has been a very difficult season but it is clear that we failed," Garrido said in comments posted Thursday on the club's website.
"I assume my responsibility as head of the group. It is not a surprise that things ended like this, you could see it coming by the way things were going.
"I accept my dismissal because the coach has the main responsibility. It has been a difficult year from the start and we have paid for it throughout the season, with setbacks like injuries and the rest."
Garrido lamented the team's ejection from the King's Cup, the national Cup competition, following a 0-2 defeat at home.
"I accept my dismissal because the team was disastrous and shameful and the way we fell to defeat by Mirandes was disgraceful."
Villarreal, a low-budget club based north of Valencia, famously punched above their weight to reach the Champions League semi-finals in 2006 when they were eliminated by Arsenal.
The following year the team known as the 'Yellow Submarine' due to their distinctive yellow home kit finished runner-up in the Liga to Real Madrid.
After coaching Villarreal's reserve side for the best part of eight years Garrido was appointed first team coach in February 2010 following the sacking of Ernesto Valverde.
In his first full season he led Villarreal to fourth place in the league and a Champions League qualification spot, but a disastrous campaign in both Europe and at home this season left Garrido's position virtually untenable.
He added: "I leave hoping to be strengthened by this experience and to be a better coach in the future."