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Frank Rijkaard, who is linked to a move to Liverpool, has terminated his contract with the Istanbul club by mutual agreement.
The leaders of the Turkish club discussed the start of the new season on Monday - the team is currently in 9th place in the national championship, and lost to "Ankaragucu" over the weekend.
It is said that the former Barcelona strategist is one of the main candidates to take over the reins at Liverpool if the club's leaders decide to part ways with the much criticized Roy Hodgson.
Rijkaard took over the Turkish team in the summer of 2009.
