Ancelotti has been relived of his duties.
Carlo Ancelotti was sacked by Bayern Munich after a 3-0 humiliation in Paris. SportBild had reported on Thursday morning that a meeting was due to be held later in the day to discuss the Italian’s future.
In a short statement, the club said: "Following an internal analysis in Munich on Thursday 28 September 2017, FC Bayern München have announced the club is to part company with head coach Carlo Ancelotti with immediate effect. Assistant coach Willy Sagnol will take charge of the team on an interim basis."
Willy Sangol, the assistant coach will take over temporarily, and former Dortmund boss Thomas Tuchel’s name is in the hat as a potential successor.
Ancelotti won the league title in his debut season at Bayern but was knocked out of the Champions League by Real Madrid in the quarterfinals and by Dortmund in the DFP Pokal semi-finals.
Bayern, who could not be immediately reached for a comment, are currently in third place in the Bundesliga, three points off leaders Borussia Dortmund.
This season, Bayern have lost one and drawn one of their opening games, leaving them third in the table after six games, a position frowned upon in Munich where they are used to winning the league in a canter.
The final nail in the coffin was however, an abject display in Paris where Neymar-led PSG ripped apart the five-time European Cup winners.
The French team tore the German visitors' defense apart on the counterattack and took command of Group B with goals from Dani Alves, Edinson Cavani and Neymar.
Kylian Mbappe, who was hired alongside Neymar this summer for a combined 400 million euros ($470 million), did not score but tormented the Bayern defense throughout with his dribbling ability and frenetic pace. He was decisive in setting up Neymar's goal.
Bayern enjoyed a good spell in the first half and caused problems to the hosts' defense but lacked pace and finishing.
Bayern coach Carlo Ancelotti unexpectedly left wingers Arjen Robben and Franck Ribery on the bench, opting for a more defensive approach with Arturo Vidal and Corentin Tolisso instead.
Ancelotti also gave starting roles to Niklas Sule and Javi Martinez in the heart of his defense, at the expense of Mats Hummels and Jerome Boateng, with the latter being left out of the squad.
There was no surprise in Unai Emery's line-up, with the attacking trident of Neymar, Mbappe and Cavani starting at the Parc des Princes in a 4-3-3 formation.
Neymar made amends a few minutes later after Alves led another charge and found Mbappe down the right. The France international wrong-footed David Alaba as he fake-kicked the ball at full speed, then stepped on it. Mbappe saw his shot blocked, with Neymar scoring a poacher's goal in the mix-up in the 63rd.
The Bavarians know they must deliver on Sunday and avoid another slip-up ahead of the international break, and club CEO Karl-Heinz Rummenigge said it was time for the real Bayern Munich to put in an appearance.
"It is now important that we turn this around and present ourselves as Bayern again," he said after Wednesday's European defeat.
"We have to show that we are a team that caused waves in the past seasons, both in Europe and domestically, and we have to pick up where we left off.
"It was a bitter defeat that needs to be discussed and analysed and clearly there will be consequences. What we saw was not Bayern."
Bayern, who have won the last five league titles and lifted the Champions League trophy in 2013, are far from the dominant team of past seasons.
Carlo Ancelotti’s sacking, despite not shocking, shows the impatience that is endemic in modern football. One of the most successful managers of all time, Carlo Ancelotti is the only manager to win three Champions League trophies (two with Milan and one with Real Madrid). He has also won the FIFA Club World Cup twice, and is considered one of the most successful managers of all time. Ancelotti was also sacked by Chelsea after winning the domestic double (Premier League and FA Cup) and after leading Real Madrid to La Decima.
With inputs from Reuters
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