this is my reading of it. if Del Neri had somehow managed to fluke CL qualification or even gotten close and settled for EL he might be able to justify his position and clung on with a board reluctant to fire a man who had reached his stated objectives.
however,since he has failed in his objective(CL qualification) and missed out on the secondary objective(EL football) the board can force his hand and explain that he has actually taken the club backwards and as suce they have no faith in his ability to lead the club. Del Neri will be forced to resign and a statement proclaiming "mutual consent" will be released.