Barcelona fired coach Quique Setién on Monday, three days after the team’s humiliating 8-2 loss to Bayern Munich in the quarterfinals of the Champions League, the first step in what it said would be “a wide-ranging restructuring" of the club. The decision was announced after an urgent board meeting summoned by president Josep Bartomeu in Barcelona. The club also announced new elections for March 2021 and said “profound changes” were coming for the first team. A replacement to Setién was not immediately announced but Spanish media said Dutch coach Ronald Koeman was the front-runner to take charge. The former Barcelona defender was reportedly already in Barcelona. Barcelona said “the new coach will be announced in the coming days as part of a wide-ranging restructuring of the first team.” The new elections next March means that the board will “assume full responsibility regarding the 2020-2021 financial year.” “The club will continue to implement the plan to reverse the sporting and economic situation, based on profound changes to the first team, plus a redefined budget to deal with the new situation caused by COVID-19, before the end of the current mandate,” Barcelona said in a statement. Bartomeu, who was heavily criticized for his club management recently, has been at the club’s helm since 2014.