Greece set to part company with Ranieri


ATHENS (Reuters) - Greece are set to dispose of the services of coach Claudio Ranieri following the embarrassing 1-0 Euro 2016 qualifying defeat to the Faroe Islands on Friday.

An agreement has been reached between both parties over a compensation settlement for the Italian to leave his post, sources close to the team told Reuters.

An official announcement was expected on Saturday.

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According to local media reports, Hellenic Football Federation (EPO) president Giorgos Sarris and Ranieri held a meeting on Saturday morning and agreed that the 63-year-old will leave after Tuesday's friendly against Serbia.

Sarris had previously declared his intention to jettison Ranieri, appointed on July 25, in the early hours of Saturday after seeing Greece lose for the third successive qualifier at home, leaving them bottom of Group F.

"Following the devastating result for the national team, I take full responsibility for the unfortunate choice of the manager," Sarris had stated.

Sarris added that EPO's board would meet "to launch all necessary changes to avoid going through another embarrassing night for the national team."

(Reporting by Graham Wood, Editing by Tom Hayward/Rex Gowar)

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