(Reuters) -Botafogo have sacked manager Renato Paiva following their Club World Cup exit, the Brazilian club said, despite his side beating Champions League winners Paris St Germain earlier in the competition.

Paiva's team went out at the last 16 stage with a 1-0 loss after extra-time to fellow-Brazilian club Palmeiras, and the manager has paid the price after just four months in charge.

Botafogo grabbed the spotlight at the Club World Cup when they beat PSG 1-0 in the group stage, having earlier defeated Seattle Sounders, and they advanced as Group B runners-up despite a 1-0 defeat by Atletico Madrid.

"The Club thanks Paiva and his assistants for their services to Botafogo over the last few months," a club statement on social media said.

"Particularly for the historic victory against Paris Saint-Germain in the Club World Cup and the qualification for the round of 16 of the (Copa) Libertadores and Copa do Brasil."

(Reporting by Trevor StynesEditing by Christian Radnedge)