With the news that, the focus now turns toward who will be his replacement. Santiago Solari is the interim manager until a full-time boss is picked, but who in the end will that be? It remains to be seen when they will decide to name a permanent manager, and that will depend on what kind of interest their receive from candidates. There's a chance it could come during the November international window or perhaps during the winter holiday.
But for now, here are the candidates that oddsmakers think could to fully replace Lopetegui.
Here are the five favorites according to Paddy Power:
Santiago Solari - 4/6
Antonio Conte - 7/4
Roberto Martinez - 8/1
Mauricio Pochettino - 10/1
Arsene Wenger - 20/1
Solari makes sense because he's now at the club and just took over the interim role, and he would be less hassle than bringing back Guti. But he isn't a big name who will excite the fan base like Conte, Pochettino and Wenger.
Martinez is an interesting one, but he didn't do well at Everton. His stock has risen with the Belgian national team, but that's a great job that could see him win Euro 2020.
All in all, it feels like it will be Conte or Solari. If Solari is given enough time, he will have the chance to impress and possibly win the job outright.
Fun fact: Solari is from Argentina but played his college ball at Richard Stockton College in Galloway, New Jersey.