The Costa Rican had taken charge of the Rojos in June of last year.  In two complete tournaments at the helm of the storied Guatemalan club, Delgado led Municipal to the 2011 Apertura title and a second place finish in this year's Clausura.

"Gerardo Villa, president of the club, met personally with Professor Delgado today at the Ernesto Villa Alonso Sporting Center, to explain the decision of the board of directors and at the same time thank him for his time in charge," a club communiqué explained.

Municipal currently sits second in the Guatemalan table, six points adrift of leader Comunicaciones.  The Rojos dropped their last league match on the road to fellow CCL entrant Xelajú, before departing to Mexico for Tuesday's 3-0 Champions League setback against the against two-time defending champion Monterrey.

"I leave calm, with my head held high, because I always wanted to give my best for the team," Delgado said.  "I would have liked to win all the games by multiple goals, but unfortunately that wasn't possible."

During his tenure, Delgado's teams reaped 53 percent of the points they disputed in league play.

The Tico also led Municipal in two CONCACAF Champions League competitions, failing to qualify for the group stage in 2011 after losing a preliminary round home-and-away to Honduran side Motagua, as well as the second place showing in this year's Group 7.

Delgado produced an overall record of three wins and three losses in his two CONCACAF Champions League campaigns in charge of Municipal.