By ESPNSTAR.com staff
The former defender had been hired to replace Unai Emery at the helm in the summer but could only muster four wins from 14 league outings.
Valencia were especially poor against Real Sociedad on Saturday as they succumbed to a 5-2 defeat at the Mestalla.
Following the game, Pellegrino was unusually belligerent as he told a press conference: "To be a fan and to love a club means to be there during the bad times. It's easy to be there during the good times."
"If being a true VCF fan means waving a handkerchief, I don't know."
Shortly afterwards, he was informed that his tenure had come to an end and the reins had then been handed to Salvador Gonzalez.
Soldado feels that the Argentinean coach should not be held solely responsible for the club's poor start. He was apologetic for the team's performance in their recent La Liga fixture and bemoaned the lack of local players in the team as well.
"The coach did his bit in the day to day management of the team, but on many occasions those who put in the hours during the week didn't show it in the match," Soldado commented.
"The players feel responsible for the current situation. We are in no doubt that we the players can do the most to turn things around and, in light of the dreadful performance against Real Sociedad, we apologise to all the fans for the ridiculous spectacle we gave.
"It's not up to me to say if (the dismissal) is fair or not: That's for the board to judge. But the decision has been taken and change is going to come and the players have to knuckle down and get on with it.
"We have to work as hard as a small team does because that's what we've shown we are on the pitch. We have to come together in the dressing room and show some gumption.
"As a Spaniard from Valencia I'd like to see a squad that was more home grown with people from the region, but right now there isn't much we can do to change that."
Reports in the Spanish press on Monday seemed to indicate that former player Ernesto Valverde appears to be the frontrunner for the managerial vacancy at the club.