Monaco have sacked manager Leonardo Jardim, the club have announced, and Thierry Henry remains the frontrunner to replace him.
Jardim took over at Monaco in 2014 and guided them to their first league title in 17 years in 2016/17, during which Kylian Mbappe was the breakout star for the side.
But, after winning 3-1 at Nantes on the opening day of the season, Monaco failed to win any of their subsequent eight league games and lost to Atletico Madrid and Borussia Dortmund in Champions League Group A, which also includes Club Bruges.
"I'm grateful and proud to have been Monaco coach for more than four years".
Arsenal's all time goal scorer Henry, who rejected several managerial approaches including championship side Aston Villa, now looks well placed to take over at his boyhood club. I have always given the best of myself and worked with passion.
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"We have won enjoyed great victories together and I will always keep those memories with me".
French and British media have reported that former France worldwide Thierry Henry is the favourite the replace him.
Monaco chief executive Vadim Vasilyev added: "I want to thank Leonardo with deepest respect for all the work he has done".
"His brief time will remain as one of the most attractive pages in the history of the club".
L'Equipe reports that the former France global, who has also been linked with Sky Bet Championship side Aston Villa in recent days, is Monaco's first choice.
Thierry Henry is hoping to poach Arsenal coach Kwame Ampadu from Arsenal as part of his Monaco backroom staff.