Jose Bordalas held a media conference at a central hotel in Valencia after last week's sacking.
Bordalas was axed as Valencia coach after just one season in charge.
He said: “I want to say goodbye to the fans. I prefer to say goodbye like this, instead of on social networks. Something very gratifying to have worked at Valencia this year.
“It was something unexpected but this is football. Clubs have owners. The club has decided that I will not continue in Valencia and I have to accept it. I wish I could have continued. We have lived very beautiful moments. I thank everyone, players, coaching staff. I am proud to have been able to coach Valencia.
“You all know the reasons. This is football. I am proud to have managed a club with more than 100 years of history. We have worked with dedication to try to achieve the objectives. We are happy because we have done a job in which we have given everything. I predict that Valencia will be among the best again."
Bordalas also said: “When they tell you that you no longer have a contract, it's not what you expect. I may disagree, but it is the decision that the owners make. My commitment has been maximum with Valencia. My conscience is clear. I am human and I have been wrong and I will be wrong. In some things I could have done better."