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Laurent Blanc has parted company with Paris Saint-Germain by mutual consent.
Blanc won 11 trophies during his three years with the French club, including three successive Ligue 1 titles, but he has paid the price for his failure to reach the semi-finals of the Champions League.
Despite signing a new two-year deal in February, the former Manchester United defender has left the club.
"In a respectful atmosphere, negotiations were completed on 27 June. An agreement, by common accord, preserves the interests of both parties," a statement from the club read.
"Assistant coach Jean-Louis Gasset and head fitness trainer Philippe Lambert, also leave the club as part of the agreement.
"As the club decides to head in a new direction for the management of the first team, it wishes to thank Laurent Blanc and expresses its gratitude for the work accomplished over the last three years by Laurent and his staff.
"During his three years at the club, Laurent Blanc won 11 trophies, including two national quadruples, and left a significant mark on the great history of Paris Saint-Germain."
CEO Nasser Al-Khelaifi added: "As we embark on a new chapter in the development of the club, I would like to thank Laurent Blanc for everything he has achieved over the last three years, both in terms of the playing style and results. I wish him the best for his future challenges."
Umai Emery, who won the Europa League with Sevilla in each of his three full seasons in charge, has been linked with the vacancy.