Juventus sacked Andrea Pirlo after just one season at the helm, with the return of Max Allegri due to follow.
His surprise appointment last summer was not a success as Juve qualified for the Champions League by the skin of their teeth on the final day.
They conceded the Serie A title to Inter Milan, ending nine years of domestic domination.
Pirlo won the Italian Super Cup and Coppa Italia, but it was not enough to keep his job.
It is understood that Allegri, who has been unemployed since leaving Juventus in 2019, will replace Pirlo.
A statement on the Juventus website said: “For the courage, dedication, passion with which he has demonstrated every day, our thanks go to the ‘Maestro’, the coach and Andrea, who really comes from the heart, as well as our good luck for the future which will surely be wonderful. “
Real Madrid had been hoping to name Allegri as Zinedine Zidane’s replacement following the Frenchman’s recent exit, but the upheaval at Juve means the Spanish club’s search for a new manager continues.
Antonio Conte is available and on Madrid’s radar after leaving Inter Milan as a full-fledged managerial merry-go-round threatens to start spinning.
Paris-Saint Germain manager Mauricio Pochettino is linked with a surprise return to Tottenham, and Zidane is reportedly an option to replace him at the French club.
Reacting to the news of Pirlo’s departure, European football expert Julien Laurens told talkSPORT: “Overall he was too young and too inexperienced for this type of club and dressing room.
“He tried to play a different style of football and it never really worked.
“Now they’re going back to Allegri, the one who got sacked because they didn’t like the way he played football despite all the trophies, he’s back two years later!”
“It’s hard to understand which direction the club is heading.
“Let’s wish Allegri the best, because I don’t think it will be easy with such a big rebuilding job to do.”