FMP Belgrade and coach Vlado Djurovic have agreed to part ways by mutual consent.

The club has appointed Bosko Djokic as the new boss.

Djurovic, in his second spell with FMP after coach the Belgrade outfit in the 2003-04 campaign, has departed after guiding the club into the Quarter-Finals of the EuroChallenge.

In the Adriatic League, FMP are third-bottom with nine wins and 16 defeats.

In a statement on the club's website, FMP expressed their gratitude for the coach, saying he had shown "superior quality in working with the youngest team in NLB (Adriatic) League".

The team did not say results led to Djurovic's departure, but rather economics.

The club said: "KK FMP is forced into this move because of the complex economic situation that has caused a significant reduction of the budget of the club.

"The club will be, in the coming period, solely reliant on players from their own system because there are no funds for the involvement of expensive foreign players."

Djokic, who has coached FMP before, is joining from Radnicki Basket.

He will lead the team in a best-of-three  EuroChallenge Quarter-Final tie against Gottingen.