Valencia president Manuel Llorente has said that it was "a painful decision" for the club to sack Mauricio Pellegrino as their coach.
The Argentine was dismissed on Saturday following Los Che's 5-2 home defeat to Real Sociedad that left the former Spanish champions 12th in La Liga.
"As you may imagine, it was a painful decision but we think that as part of the responsibility we have, we have to take these kinds of decisions," said Llorente.
"If we are in this situation it's not just because of Mauricio Pellegrino. I think that all of us in charge of the club are responsible.
"Our aim is to get the team into the Champions League and it's our responsibility to make sure that happens. It's easier not to take decisions but it's our duty."
Sporting director Braulio Vazquez has said that they have not yet identified a replacement for Pellegrino.
