Schaefer, renowned for his exuberant touchline presence and white bouffant hairstyle, enjoyed a chequered time in Thailand football’s top job, overseeing a disappointing World Cup qualifying campaign but progressing to the final of the regional Suzuki Cup in December only to narrowly lose on home soil.
Ongart Kosinka, secretary-general of the Football Association of Thailand (FAT), told AFP, adding that both sides agreed to annul the agreement.
“I was not there when the two sides talked, but the FAT decision was based on several reasons including coach performance,” he said, adding that no decision had been made on his successor.
Schaefer led Cameroon to victory in the 2002 African Nations Cup. He has also coached United Arab Emirates side Al Ain and FK Baku of Azerbaijan.
The Bangkok Post reported that he is now expected to join Thai Premier League champions SCG Muang Thong United as head coach.
Schaefer’s strained relationship with FAT came to a head when former national striker Kiatisak Senamuang was appointed caretaker coach of the national team for next week’s friendly against China.
The former coach stated on his Facebook page that he was very sad” to be leaving the Thai national team.
“Yesterday [Monday], the FAT called me and we cancelled the contract by mutual agreement,” he wrote.
“I had a fantastic time with the kindest and good-hearted players. I wish them all the best for the future. Thank you for the support.”