RIO DE JANEIRO, June 30 (Xinhua) -- Botafogo has sacked manager Renato Paiva after the Brazilian side's elimination from the FIFA Club World Cup.

In a statement, the Rio de Janeiro-based club said the Portuguese coach was notified of the decision on Sunday night, adding that a search was already underway for a replacement.

"Botafogo informs that Renato Paiva is no longer in charge of the first team," the statement read. "[We] are in the market for a new coach to continue the challenge of winning titles."

The announcement followed Botafogo's 1-0 extra-time loss to Brazilian rivals Palmeiras in their Club World Cup last 16 clash in Philadelphia on Saturday.

Paiva guided Botafogo to 12 wins, three draws and eight losses across all competitions after replacing compatriot Artur Jorge in February. ■