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The club are bottom of the table after collecting just one point from their opening five matches, scoring once and conceding 10 goals.
Corberan's dismissal comes only two months after Valencia extended his contract until 2028. The 43-year-old took charge in December 2024 after leaving Championship side West Bromwich Albion and helped steer Valencia away from relegation after they had dropped to second-bottom.
He subsequently guided the club to ninth place last season, with Valencia pushing towards the European places during the closing stages of the campaign.
However, the team's poor opening to the new season has brought his tenure to an abrupt end.
A 5-0 defeat by Barcelona last weekend was followed by a 1-0 loss to Sevilla on Friday, leaving Valencia with no wins from their first five league matches.
Reserve-team coach Oscar Sanchez has been appointed as interim manager and will take charge for Tuesday's meeting with Deportivo Alaves.
Corberan's first-team coaching staff will also leave the club.
Gourlay, the former Chelsea chief executive who previously worked at West Brom, has also been dismissed less than two years after joining Valencia in December 2024.
His departure is accompanied by those of Lisandro Isei, Hans Gillhaus, Andres Zamora and Malek Shafei.
Valencia said the changes were part of a decision to "begin a new phase in its sporting structure and football management", with the club set to announce details of its new football structure and sporting project shortly.
The club praised Corberan for his work across 72 official matches, saying he had arrived during a "complicated situation that he managed to change" and carried out his duties with "professionalism, passion and the utmost commitment".
His successor will become Valencia's 18th permanent head coach since 2012, underlining the continued instability at the Mestalla.
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