After the 1:2 defeat in the Champions League at FC Bologna, Bundesliga soccer club Borussia Dortmund has parted company with coach Nuri Sahin.

"After an internal analysis of the recent sporting development," Sahin was released with immediate effect, BVB announced on Wednesday. The former BVB player Sahin had only taken over the position at the beginning of the season. The only listed Bundesliga club started the year with four defeats. In the Bundesliga, Borussia recently fell back to tenth place. In the Champions League, it is in danger of missing out on a direct place in the last sixteen after the defeat in Bologna.

Stock market players associate Sahin's dismissal with the hope of improvement: BVB shares, which had fallen before the market opened, rose by one percent to 3.23 euros after the news.

Lars Ricken, the managing director of the sports division, said that the club's management had "unfortunately lost faith in being able to achieve our sporting goals in the current constellation." He said the decision "hurts me personally, but it was unavoidable after the game in Bologna."

(Report by Alexander Hübner, edited by Myria Mildenberger. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and business) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)