Frank Rijkaard has been let go as the manager of Galatasaray by what the club claims as a contract termination by "mutual consent".
Rijkaard was signed to a two year contract in June of 2009, succeeding interim manager Bulent Korkmaz. His first year at the Istanbul club saw Galatasaray place third in the 2009-10 season.
A statement from Galatasaray said that as of October 20, 2010 "manager Frank Rijkaard, assistant manager Johan Neeskens, and other assistants have had their contracts terminated by mutual consent. We thank Frank Rijkaard for his efforts and work to date, and sharing with us his know-how and experience."
Rumors around the club are that Fatih Terim is set to take over for his third stint with the club. Tugay Kerimoglu, who had previously played for the club as well as Blackburn Rovers, and is currently the manager of the youth teams, takes over on an interim basis.
Galatasaray currently are ninth in the Spor Toto Super League standings with a record of four wins and four losses, giving them 12 points. Galatasaray currently is on a two game losing streak, and play fierce rivals Fenerbahçe this Sunday.