Ghana's football association announced on Friday the firing of national team coach Kwesi Appiah, ending months of speculation about the fate of the controversial coach.

The announcement came on the heels of Ghana's disastrous performance at this year's football World Cup in Brazil in which they failed to advance beyond the group stage.

The players' high-profile dispute with the Ghana Football Association (GFA) over appearance fees and Appiah's decision to suspend two key players during the tournament made headlines worldwide.

"The GFA wishes to thank Mr Appiah for his diligent service to the country as the coach of the Black Stars for the past two years," the GFA said in a statement on its website.

"We wish him every success for the future."

Private radio station Joy FM reported that Serbian Milovan Rajevac, a former Black Stars coach from 2008 to 2010, would return to head the team.

After taking charge in 2012, Appiah led Ghana to the World Cup finals this year, only to see them lose their first match against the United States 2-1 and draw with eventual champions Germany 2-2.

Before the team's decisive group match against Portugal, which could have seen them reach the knock-out stage, players demanded that over $3 million appearances fees be flown to them in cash.

The demand caused an uproar in Ghana, where a slowing economy and a devaluing currency have sent prices rising across the country over the past year.

The GFA then suspended striker Kevin-Prince Boateng for insulting Appiah and midfielder Sulley Muntari for hitting a staff member.

Ghana went on to lose to Portugal 2-1.

Their lacklustre performances continued during qualifiers this month for the 2015 Africa Cup of Nations.

They could only manage a 1-1 draw at home to lowly Uganda last week and scraped through 3-2 victory away to Togo on Wednesday.