The Dutch coach's contract with the MLS has been terminated...
The 48-year-old Koeman took up the job as Hungary gaffer in April 2008 and made a good start to the qualifying campaign for the 2010 World Cup. However, Portugal, Denmark and Sweden eventually proved to be too strong for the Magyars.
Hungary's failure to make it to South Africa was met with disapproval by the new president of the MLS and it appeared to be only a matter of time before Hungary said farewell to the former Feyenoord gaffer.
The Magyars have appointed former under-21 coach Sandor Egervari as the new man in charge of Hungary's national side. The 60-year-old Egervari is very highly rated in his native country and Hungary are hopeful that the experienced gaffer will lead them to Euro 2012.