Borussia Dortmund have announced that they have allowed head coach Edin Terzic to leave the club by mutual consent.
The development comes less than two weeks after Dortmund participated in their first Champions League final in more than a decade, losing 2-0 to Real Madrid at Wembley Stadium.
However, the two parties have decided to go their separate ways in amicable fashion after holding discussions in recent days.
In a message published on the club's official website, Terzic suggested that he was ready for a new challenge after spending a total of nine years at Westfalenstadion.
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Departure 'hurts Terzic terribly'
The 41-year-old said: "Dear Borussia fans, even though it hurts me terribly right now, I would like to tell you that I will be leaving BVB today.
"It was a huge honour to be able to lead this great club to a DFB Cup victory and most recently to a Champions League final. I asked those responsible for a meeting after our final at Wembley because after nine years at BVB, including six years on the coaching team and two and a half years as head coach, I feel that the upcoming new start should be accompanied by a new man on the sidelines.
"Everyone who knows me knows that during this decision-making process of the past few weeks, two hearts have been beating in my chest. But even after intensive discussions, my basic feeling has not changed. I wish Borussia Dortmund only the very best and say thank you and goodbye."
Sebastien Kehl, Dortmund's sporting director, added: "Edin is a Borussia fan through and through, a great, very authentic person and has always given 100% to BVB. We have experienced a lot together.
"It was great fun working with Edin on our goals. Our successes of the past years will always be linked to him - and I am sure that we will see each other again. Edin will follow his own path."
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What did Terzic achieve as Dortmund head coach?
Only securing a fifth-placed finish in this season's Bundesliga does not tell the whole story with Terzic having taken Dortmund agonisingly close to glory on two occasions over the past 12 months.
Dortmund had one hand on the Bundesliga title in 2022-23, only to draw with Mainz 05 on the final day and lose out to Bayern Munich on goal difference.
Despite progressing through a Champions League group involving Paris Saint-Germain, AC Milan and Newcastle United during the first half of this campaign, Dortmund were outsiders to reach the final.
However, they came through two-legged ties with PSV Eindhoven, Atletico Madrid and PSG to reach the final, dominating the first half without scoring what could have proven to be a pivotal opening goal.
Terzic does leave with a DFB-Pokal from 2020-21 to his name, though, with 55 wins and 193 goals coming from his 96 matches in charge.
