Coach Rui Almeida has left Bastia, the club have announced.
Bastia were relegated from Ligue 1 on the last day of the season after defeat to Marseille, and were last week further demoted on financial grounds subject to an appeal.
As things stand they will line up in the third tier, the Championnat National, and will have to do so under a new coach.
A statement on the club's official website read: "Sporting Club de Bastia, Rui Almeida and his assistant Gabriel Santos have taken the decision to bring an end to their collaboration by mutual agreement."
Almeida only took the reins in February, replacing Francesco Ciccolini, and had a contract that ran until 2019.
Bastia remain hopeful of remaining in the second tier after they and Corsican neighbours AC Ajaccio were both provisionally relegated by the DNCG, French football's financial regulator.
Bastia, who were also investigated by the DNCG last summer, responded to last week's decision with a statement on Thursday which read: "The appeal period allows the club to sell players in order to balance their accounts before their next hearing."
The club's season also featured several instances of crowd trouble, with a partial stadium closure after Nice striker Mario Balotelli was racially abused in January while April's clash with Lyon at the Stade Armand Cesari was abandoned at half-time after Bastia fans and staff attacked visiting players.