Mijatovic made the announcement of the 61-year-old Capello's sacking -- the Italian is presently on holiday in Tibet -- following a Real board meeting.

"We have decided not to continue with Fabio Capello as our coach for next season," said Mijatovic.

"It was not an easy decision to take as he has worked well.

"But he is not the ideal person to achieve all that we want," added the former Real Madrid striker.

The decision was taken "with absolute unanimity" following a 75-minute board meeting, Mijatovic added.

"The board has taken important decisions for the future of the club. As sporting director I have submitted a detailed report of what transpired last season and presented it to the chairman and to the board, which has taken a unanimous decision not to continue with Fabio Capello as coach next season.

"It was a difficult decision to take as in spite of everything Capello did well over the season and won the title but, taking everything into account the board decided not to stick with him.

"We have taken a good decision even though it was not easy in the least," said Mijatovic, adding that the club would now "take time to look" for a successor.

Mijatovic would not be drawn on who they had lined up to replace Capello, who is not the first Real coach to suffer the boot after delivering the title as Vicente del Bosque was despatched after the 2002-03 season.

That Liga win was the club's last honour until Capello landed the club's record 30th league title.

"There are candidates," said Mijatovic.

"Lots of coaches want to take on this team, we will not have many problems in finding the person that we believe in."

While former German international and former Real midfielder Bernd Schuster has been tipped strongly to replace Capello, Mijatovic denied that he was waiting in the wings.

"Schuster is a coach who would be ideal but he has a contract with Getafe," commented Mijatovic.

"He is one of the candidates."

"Bernardo (Schuster) is one of the coaches who have many of the qualities we are seeking but we know full well he is under contract at Getafe. He is one of the candidates (but) we don't want to do things in a hurry. We will take time to look" Mijatovic told reporters.

He also unveiled the recipe required for the next man in charge.

"We are clear on his profile. A man with experience, who is well versed in the mentality of Spanish football and if he is young, so much the better.

"He will have to mark out an era by winning many titles while serving up an entertaining style of play."

The Spanish press have also named among the possibilities Arsenal's Arsene Wenger -- which would set him up against his former striking star Thierry Henry, who left this week for Barcelona -- former Danish international Michael Laudrup and PSV Eindhoven's Ronald Koeman.

Mijatovic said that he would personally talk to Capello following the decision to jettison the Italian and his coaching staff.

He explained that Capello, who will be paid off a year's salary of 5.2 million euros (7.5 million dollars), had been "much brought into question" as a coach and that the media "and the majority of the fans" wanted him out.

Earlier, Spanish sports daily Marca reported that Real president Ramon Calderon had justified the impending sacking to Real directors by insisting the side must "always search for excellence".

"We've made an important step with the title, we've laid the foundations but we need to find another more enthusiastic way of playing," Calderon was quoted as saying.

Capello, who has coached AC Milan and Juventus in Serie A, leaves two years ahead of the end of his contract.