Abdurrahim Albayrak said the club is going to "part ways" with Cesare Prandelli, who has been blamed for the club's poor performance this year.
Galatasaray did not start the 2014-2015 season well. The team lost to arch rivals Fenerbahce in the Turkish Super Cup at the opening of the season.
The team struggled in the domestic league and in the Union of European Football Associations Champions League as well, where Galatsaray consistently conceded four goals to their opponents.
The first blow to the "yellow-reds" came from league's underdogs Balikesirspor, and then they were beaten by Arsenal 0-4 in the Champions League group match as well.
Unfortunately, the slump did not stop there. Galatasaray were then defeated by Dortmund 4-0 in Germany, and just four days later they lost again 4-0 to a middle-budget Istanbulite team, Istanbul Basaksehir.
Galatasaray, on Wednesday, was eliminated from the Champions League after losing 2-0 to the Belgian club Anderlecht. Despite the bad results, they are at the third spot in Turkish Spor Toto Super League with 19 points, just a point behind their rivals Fenerbahce and Besiktas.
The club will most probably assign Claudio Taffarel, assistant manager and a club legend, to manage the domestic league match against Gaziantep on Saturday.
