Omonia boss Neophytos Larkou has parted ways with the Nicosia club 17 months after taking over the Cypriot Cup holders.
Larkou was the surprise replacement for the outgoing Dusan Bajevic back in April 2010 but still managed to steer the club to two Cup victories as well as a Super Cup during his tenure there.
But it was the club’s failure to reach the group stages of the Europa League that put the club back financially whilst they have also struggled in the league.
“Omonia announces the mutual termination of its cooperation with the coach Neophytos Larkou following a meeting this afternoon”, read a club announcement. “Both sides feel and due to the recent developments, it is in the best interest of the team that both sides part their ways.”
The club went on to thank him for “taking over when the club was in turmoil and guiding them to success in the Cup and Super Cup.”
This season, Omonia – who club officials say is struggling financially – bounced back from their elimination in the Europa League at the hands of Red Star Belgrade to win the Super Cup and began the league season in emphatic fashion thrashing Ayia Napa 5-0.
But a draw in their next game away to Ethnikos Achnas saw them slip off the pace and appeared to be the final nail in Larkou’s coffin.
Larkou’s assistant Sofocles Sofocleous will take over as temporary coach until a replacement is found.