Former Brentford head coach target Pep Clotet has been sacked by Oxford after less than seven months in charge of the Sky Bet League One club.
The Spaniard was the overwhelming favourite to replace Marinus Dijkhuizen in the 2015/16 season and it was expected he'd take charge after the 2-1 win over Nottingham Forest, which Lee Carsley declared his last game in charge.
However, any potential deal fell through, with the then Swansea assistant preferring to show loyalty to Garry Monk and rejected two offers from the Bees.
Dean Smith was appointed the following week but not in time to take charge for the 1-1 draw with Bolton with Carsley in charge of the team that evening.
Clotet, who followed Monk to Leeds after their axing by Swansea, appointed on July 1 as successor to Michael Appleton and departs the Kassam Stadium with the U's 10th in the table, eight points adrift of the play-off positions.
However, he oversaw an ignominious 7-0 thrashing at home to league leaders Wigan just before Christmas and a surprise 2-1 defeat against rock-bottom Bury proved the final straw.
Assistant head coach Derek Fazackerley has been placed in temporary charge.
A statement on the club's website said: "Oxford United Football Club has today parted company with its manager, Pep Clotet.
"The board has taken the decision after much consideration, and in the best interests of Oxford United FC.
"Pep has worked extremely hard throughout his time at Oxford. The board thanks him for his efforts and wishes him every success for the future.
"Derek Fazackerley will take charge of the first team until further notice, and the search for a permanent replacement has already begun. The board is focused on maintaining a challenge for promotion to the Championship and will make an announcement regarding a new manager as soon as possible."
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