Perth Glory axe A-League coach Kenny Lowe

Justin Chadwick
AAP

Perth's longest-serving A-League coach Kenny Lowe has been axed, and it appears unlikely owner Tony Sage will fork out the big dollars needed to lure Tony Popovic as the replacement.

Lowe, who had one more year to run on his contract, was told on Wednesday of his sacking, just four days after his side had crashed out of the finals race with a 3-2 loss to Brisbane.

But Lowe hasn't been cast aside altogether, with the Englishman to take up the title of technical director of the Glory's youth academy.

Lowe was axed only 24 hours after Western Sydney coach Josep Gombau was shown the door.

Former Wanderers coach Popovic might come into the reckoning to replace Lowe or Gombau.

Popovic left the Wanderers on the eve of the A-League season to take up the head coaching role at Turkish club Karabukspor, but was sacked after 11 games.

The Glory's financial situation might prevent them from making a legitimate bid for Popovic, who would command a hefty pay packet and probably bring assistant coaches with him.

Sage has previously stated he has lost around $26 million in the Glory since taking over in 2007 as owner.

The club spent less than the allowed salary cap this season to save costs, and their back-room office is also run on a tight budget.

Sage has flagged the need for foreign investment in the club, and there are rumours a Malaysian syndicate is interested.

If that foreign investment doesn't arrive within the next few weeks, it appears unlikely the Glory will be able to meet the financial demands of a proven coach like Popovic.

Glory chief executive Peter Filopoulos said the club sacked Lowe because of disappointing results and the desire to head in a fresh direction.

"We never shied away that we wanted a top-four finish, at the beginning of the year, and we felt the squad should have done better than what it actually did in the end," Filopoulos said.

"We just felt generally, as part of the review, that after four-and-a-half years, we needed a new, fresh approach in the coaching ranks."

Lowe declined to attend the media conference because the emotion was too raw, but he posted a thank you letter later in the day on Twitter.

"Who would have dreamed that the journey would have been this long ....... or this interesting!" Lowe wrote.

"... I genuinely believe I have made a fair few friends along the journey and for this alone I would not change one thing ... apart from getting sacked ha ha ha!"

Lowe helped guide the Glory through a number of stormy times.

He took over in December 2013 as interim coach when a player revolt led to the stunning dismissal of then-coach Alistair Edwards.

Lowe was appointed full-time coach at the end of that season and he was left to pick up the pieces again when the club's salary-cap breaches were revealed in 2014-15.

Glory were stripped of their finals spot and fined $269,000 for those breaches.

Lowe was a rock during that controversy, and he guided the club to finals action in the next two seasons.

But they fell just short this campaign, with injuries to key players cruelling their chances.

RECORD OF GLORY COACH KENNY LOWE:

* Wins: 52

* Draws: 27

* Losses: 49