Krassimir Balakov has left PSFC Chernomorets Burgas by mutual consent, despite the side riding high in fourth in the A League.

"We would like to thank Krasimir Balakov and his assistants Iliya Gruev and Yoncho Arsov for their commitment and effort during two years here," the club said in a statement.

Former VfB Stuttgart striker Balakov, a member of the Bulgaria side that reached the 1994 FIFA World Cup semi-finals, arrived at Chernomorets Burgas in December 2008. He lifted the side from ninth to seventh in his first campaign, fifth last term; 15 games into this season they are level on points with third-placed PFC Lokomotiv Sofia. The 44-year-old previously coached Swiss sides Grasshopper-Club and FC St Gallen.