Ronald Koeman has been sacked from coaching Barcelona, the club announced on Wednesday, after a defeat by Rayo Vallecano left the club ninth in La Liga.

Barca have won only two of their last seven league games under Koeman, a run that included losing to Real Madrid in Sunday's Clasico at Camp Nou.

A poor start to the season has raised the possibility of the team failing to qualify for next season's Champions League, which would have enormous consequences on the club's financial situation.

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Xavi Hernandez, Barcelona's former midfielder who is currently in charge of Qatari club Al Sadd, and River Plate coach Marcel Gallardo are reportedly among those under consideration to take over.

A club statement released on Wednesday read: "FC Barcelona has dismissed Ronald Koeman as coach of the first team tonight."

It added that Barca's president Joan Laporta had informed the coach after the defeat against Rayo Vallecano.

"The FC Barcelona wants to thank him for his services and wishes him good luck in his career," the statement concluded.