Unai Emery is no longer Arsenal head coach and Freddie Ljungberg has been placed in temporary charge.
Of course, that's not the only big story surrounding the Gunners at the moment.
Seven games without a win across all competitions has placed added importance on tomorrow afternoon's Premier League clash against Norwich City at Carrow Road.
The north London outfit will go into the game on the back of a defeat in the Europa League on Thursday night - a result which proved to be the final straw for Emery.
As expected, there's been a huge fallout to the defeat against Eintracht Frankfurt and the players must now focus on getting back to winning ways.
With that said, here's all the news from around the Emirates Stadium over the past 24 hours.
Emery sacked
As mentioned above, Arsenal parted company with Unai Emery on Friday morning following one full season as head coach.
An official statement via the club's official website reads: "We announce today that the decision has been taken to part company with our head coach Unai Emery and his coaching team."
Speaking on behalf of the Arsenal board and our owners Kroenke Sports & Entertainment, Josh Kroenke said: “Our most sincere thanks go to Unai and his colleagues who were unrelenting in their efforts to get the club back to competing at the level we all expect and demand. We wish Unai and his team nothing but future success.”
"The decision has been taken due to results and performances not being at the level required.
"We have asked Freddie Ljungberg to take responsibility for the first team as interim head coach. We have full confidence in Freddie to take us forward.
"The search for a new head coach is underway and we will make a further announcement when that process is complete."
Klopp's verdict
Many Premier League managers gave their thoughts regarding Emery's departure.
Pep Guardiola, Jose Mourinho and Frank Lampard all had kinds words for the now ex-Arsenal head coach, while Liverpool boss admitted he was surprised by the decision.
"I was surprised when I saw the news. That's how the football world is," he said ahead of the Reds' clash with Brighton & Hove Albion. "I have no clue what happened there but obviously the board wasn't happy with the performances and made a decision. That's our life (as manager) when you sign a contract.
"I wish him all the best, he is an outstanding manager.
"He will be fine, I am sure he had big ambitions but it didn’t work out."
Lacazette's message
Alexandre Lacazette thanked Emery after he was sacked on Friday morning.
First-team players such as Emiliano Martinez, David Luiz, Dani Ceballos, Calum Chambers and club captain Pierre-Emerick Aubameyang all sent messages to the now ex-Gunners head coach.
And Lacazette did the same.
"Not always easy when someone has to leave the club," he tweeted. "But I want to the thank the coach and the staff for everything and wish good luck for the future."
Lacazette was an unused substitute in Emery's final game, but this social media post would suggest the pair have buried the hatchet.
Pochettino 'a candidate'
Ljungberg will take charge of first-team matters for the foreseeable future as the club seek to appoint a permanent replacement for the Spaniard.
But who is in the running to become next Arsenal head coach?
Well, the Athletic have reported that the Gunners view former Tottenham Hotspur boss Mauricio Pochettino as a credible option.
However, the report does claim that while he is among the list of candidates to replace Emery, it's unclear as to how he would view an approach given his close ties to the Lilywhites.
Pochettino has previously insisted that he would never work for Spurs' bitter north London rivals. But that's not stopped some Arsenal fans from getting excited about the prospect of Pochettino taking up a position at the Emirates Stadium.
