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Setien was sacked in a meeting with technical director Eric Abidal just days after the humiliating 8-2 defeat to Bayern Munich in the Champions League quarter-finals.
Koeman – a Barcelona great as a player – is said to be the preferred choice of president Josep Maria Bartomeu, with an announcement expected in the next few days.
A Barcelona statement after Setien’s dismissal read: “This is the first decision within a wider restructuring of the first team which will be agreed between the current technical secretary and the new coach, who will be announced in the coming days.”
Barca would need to pay compensation to get Koeman out of his current role as Netherlands head coach.
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