Abelardo has parted company with his beloved Sporting Gijon after a string of bad results which has left the La Liga club languishing in the relegation zone.
The Gijon native began his playing career with Rojiblancos and spent six seasons at El Molinon before joining Barcelona in 1994.
Abelardo returned to the Asturias outfit in 2008 as coach of their B team but was sacked, although he was given a second chance in 2012 before making the step up to the first team in 2014.
However, things have not gone well for the 46-year-old of late after a promising start to the season, with the decision being taken following a run of just one win in their last 15 league games.
Abelardo, though, has refused to accept a compensation payout reportedly worth £3.5 million.
"I don't have a problem writing off the money. There are more important things – loyalty to my club above all," the teary-eyed Spaniard said at a new conference.