The Fiorentina boss lunged for ex-Manchester United triallist Adem Ljajic when the footballer sarcastically applauded his decision to substitute him during a match yesterday (May 2).
BBC Sport reports that the Italian club's president Andrea Della Valle dismissed Rossi immediately after the match, commenting: "I had to make this decision. No provocation justifies the reaction.
"I'm sorry for the coach who is a good person and does not deserve it, but tonight he committed a serious act.
"In a few seconds, months of stress came out. I am sorry because the coach has never committed acts of this kind."
Watch a video of the incident below: