Ricardo's reign ends at Monaco
© AFP

Monaco have announced that they will not renew the contract of coach Ricardo at the end of the season, as the Brazilian becomes the latest coaching casualty in the French top flight.

The former Brazil captain is out of contract at the end of June, but despite guiding the club to safety and a place in mid-table despite a poor start to the campaign, his two-season stint at Monaco will come to an end.

"The club will not pursue this collaboration (with Ricardo) further than the end of the current season," read the statement.

Monaco's new club director Marc Keller told the players in a closed training session on Wednesday morning at La Turbie that Ricardo would be released.

Paul Le Guen who is set to leave Paris Saint Germain at the end of the season is an early candidate to take over from Ricardo, while Rennes coach Guy Lacombe, Frederic Antonetti and Scotland's John Collins, a former player with Monaco, have also been mentioned.

Keller told the players that no decision regarding the new coach had yet been finalised.