Hamburg  - German World Cup winner Lothar Matthaeus and Maccabi Netanya have cancelled the coaching contract between the two parties that was to run until 2010, German media reported Wednesday.

Matthaeus is quoted as having said that he was disappointed his coaching stint with the club had come to an end. "The recession forced the club to approach me. I accepted their situation, but am sad as I would have liked to have coached them for longer."

The 48-year-old, who previously coached Rapid Vienna, Partizan Belgrad, Atletico Paranaense, Red Bull Salzburg and the Hungarian national team, is already being linked with Maccabi Tel Aviv and the Macedonian national team.(dpa)