Racing Santander fired coach Miguel Angel Portugal on Monday following a seven-match winless run that has left the team only a point above the relegation zone in the Spanish league.
Portugal is the fifth coach to lose his job this season in the Spanish league and his dismissal is the first major move by new owner Ahsan Ali Syed, who took over the club near the end of January.
''Racing has reached an agreement with Miguel Angel Portugal on the cancellation of his contract,'' Santander said in a statement.
Ali Syed, a Gulf-based Indian businessman, said last week he was looking to sign new players, coaches and staff to help build the northern coastal club into a title contender. Santander has never won a major trophy in its 98-year history.
Portugal has previously coached Santander, leading the team to 10th place in 2006. He also worked as Real Madrid's technical director during the 2008-09 season.
