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Jose Mourinho has parted company with Chelsea by mutual consent, the Premier League club has announced.
The reigning Premier League champions have lost nine of their 16 matches this season, leaving the club 16th in the table just one point above the relegation zone.
There were widespread reports that owner Roman Abramovich had called an emergency board meeting for Wednesday in the wake of the 2-1 defeat at Leicester, but this was later denied by the club. However, it emerged that the board had discussed Mourinho's position due to the poor run of results.
Mourinho received the backing of Abramovich in October but with results failing to improve the club has taken the decision to relieve him of his duties.
A statement from the club read: "Chelsea Football Club and Jose Mourinho have today parted company by mutual consent.
"All at Chelsea thank Jose for his immense contribution since he returned as manager in the summer of 2013.
"His three league titles, FA Cup, Community Shield and three League Cup wins over two spells make him the most successful manager in our 110-year history. But both Jose and the board agreed results have not been good enough this season and believe it is in the best interests of both parties to go our separate ways.
"The club wishes to make clear Jose leaves us on good terms and will always remain a much-loved, respected and significant figure at Chelsea. His legacy at Stamford Bridge and in England has long been guaranteed and he will always be warmly welcomed back to Stamford Bridge.
"The club’s focus is now on ensuring our talented squad reaches its potential.
"There will be no further comment until a new appointment is made."
Mourinho was first appointed manager in June 2004 and during his first spell in charge guided the club to back-to-back Premier League titles, the FA Cup, the League Cup and the FA Community Shield before leaving in September 2007 following a falling out with Abramovich.
He went on to manage Inter Milan and Real Madrid before returning to Stamford Bridge in June 2013.
The Blues lifted the Premier League title last season but they have endured a dismal start to the campaign, losing nine games amid widespread reports of unrest in the dressing room.
A number of outbursts against match officials resulted in him serving a one-match stadium ban, while he was heavily criticised for his decision to speak out against club doctor Eva Carneiro for running onto the pitch to treat Eden Hazard in the closing stages of the 2-2 draw with Swansea on the opening day of the season.
Carneiro subsequently left the club and is now taking legal action against Chelsea and Mourinho.