Oliver Glasner, manager of the Bundesliga's Eintracht Frankfurt, will step down after the 2022-23 season, the club announced on Wednesday.

"Following lengthy and intensive discussions as well as a comprehensive analysis with head coach Oliver Glasner, Eintracht Frankfurt have reached the decision to end their working relationship with the tactician at the end of the 2022/23 season," Frankfurt said in a statement. "The team's sporting development and overall performance in the second half of the campaign prompted club officials to reevaluate the situation, a process which led to the aforementioned decision. The 48-year-old's contract was originally due to expire on 30 June 2024."

Glasner managed Vfl Wolfsburg for two seasons before joining Frankfurt. He led the team reach the Round of 16 in the UEFA Europa League during the 2019-20 season and then helped them qualify for the UEFA Champions League in the 2020-21 season.

Having taken over Frankfurt in July 2021, Glasner took the club all the way to the Europa League final in the 2021-22 campaign before defeating Rangers to win their first European title in more than 40 years. This season, Frankfurt advanced to the Champions League Round of 16 and the DFB Pokal final for the first time in five years.

Nonetheless, the club suffered a 10-game winless streak in the Bundesliga since late February, dropping from second to ninth on the standings table. The are currently three points behind the seventh-ranking Wolfsburg with three games to go.

"I accept the decision of the club management, which has been explained to me in a reasonable way," Glasner said in the statement. "It's not the time now to say goodbye or reflect, as we have a big mission ahead of us, and will give our all in the weeks ahead to set ourselves up for a big final together in Berlin with our performances at the end of the Bundesliga season and then take the DFB Cup back to Frankfurt. It's very important to me personally that Eintracht can enjoy more fantastic nights on the European stage next season."

Frankfurt will play against Red Bull Leipzig in the DFB Pokal final at the Olympiastadion in Berlin on June 3. They need to either win that championship or rise to the seventh in the Bundesliga to qualify for the Europa League in the 2023-24 season.