Former Rayo Vallecano and Granada Coach Paco Jemez has agreed to leave Cruz Azul next month amid links with a La Liga return.
The Mexican domestic season concludes next month and Marca report that the parties have mutually agreed to go their separate ways thereafter.
The 47-year-old joined the Mexican giants in November 2016, two months after being sacked following six games in charge of Granada and is now being linked to Las Palmas.
Pako Ayestaran is still in charge of Los Amarillos but has lost all of his six league games in charge and a total of 13 across his spell with the Gran Canarian side and Valencia.
Jemez coached Las Palmas between 2010 and 2011, with former Glasgow Rangers Coach Pedro Caixinha set to replace him at Cruz Azul.