Coach Laurent Blanc parted ways with Paris St Germain Wednesday despite leading the club to a domestic treble last season, French sports paper L'Equipe reported Thursday. The paper reported that the 50-year-old Blanc, who signed a two-year contract extension in February, was given 22 million euros in severance pay. PSG won the Ligue 1 title, the French Cup and the League Cup last season. CAS rejects Galatasaray ban appeal The Court of Arbitration for Sport (CAS) Thursday rejected an appeal by Turkish football club Galatasaray against its ban from European competition for breaching financial fair play rules. "The appeal filed by Galatasaray SK has been dismissed and the decision rendered by the UEFA Club Financial Control Body Adjudication Chamber on 2 March 2016 has been confirmed," the Lausanne-based CAS said in a statement. "As a consequence, Galatasaray SK remains excluded from participating in the next UEFA club competition for ... the next two seasons," the ruling further said. Earlier this year, UEFA said the Istanbul-based club violated rules on the amount of financial losses each team can sustain. The club has qualified for the Europa League and in May won its 17th Turkish cup. Sanchez replaces Silva as Olympiakos coach Greek champion Olympiakos announced Thursday the resignation of Portuguese coach Marco Silva and the immediate appointment of Spaniard Victor Sanchez. "Olympiakos announces to its fans that coach Marco Silva has given in his resignation for personal reasons. His resignation has been accepted by the club," the statement from the Piraeus team said. "Olympiakos announce the start of cooperation with Spanish coach Victor Sanchez." No details were revealed by the club as to the reasons for the unexpected decision, and Silva had travelled this week to Austria where the team is currently training. Silva, 38, led the team in his one-year stint to a record 43rd title last season and 17 straight wins. The club won the Greek league with six matches remaining, garnering 85 points, 30 more than second-placed archrival Panathinaikos. He also guided Champions League-bound Olympiakos to the Greek Cup final, only to suffer a surprising 2-1 defeat to AEK. Silva joined Olympiakos from Sporting Lisbon, who he coached from 2014-2015 after a stint at Estoril. Sanchez, 40, coached Deportivo La Coruna last season and from 2013-2014 was assistant to Michel at Olympiakos. He was also assistant coach at Sevilla (2012-2013) and Getafe (2010-2011).
