Laurent Blanc has parted ways with Paris Saint-Germain, according to L’Equipe.
The paper reported that the 50-year-old Blanc, who signed a two-year contract extension in February, was given 22 million euros in severance pay.
Blanc won three French Ligue 1 titles and secured domestic trebles in each of his last two seasons with PSG.
PSG : Laurent Blanc résilie et part avec 22 millions d'euros https://t.co/5Wwqq2YLHb— L'ÉQUIPE (@lequipe) June 23, 2016
The departure of Blanc, whose position has looked increasingly tenuous after he failed to guide the French side beyond the Champions League quarter-finals, opens the way for Emery, who has been heavily linked with the post and left Sevilla last week.
The Spaniard Emery would be a popular choice among fans of PSG, who have spent heavily in the transfer market since the Qataris took over in 2013 targeting domestic and European domination.
Emery led Sevilla to the Europa League title in each of his three full seasons at the club since joining them in January 2013.
The 44-year-old has also coached Valencia, Spartak Moscow and Almeria.