The former ski jumper, who has apologised, guided Finland to sixth place in Tuesday’s mixed team event but will play no further role in Milano Cortina, with Lasse Moilanen set to take over for the remainder of the Olympics, the team said.
"Medved has travelled home today. It is about issues related to alcohol consumption. We take the violation of the team's rules seriously and react quickly," Janne Hanninen, manager of the Finnish team, said in a press release on Thursday.
The Finnish Ski Association said 44-year-old Medved remains under contract and that the matter will be formally reviewed once the Olympics have finished, the release said.
"I made a mistake and I'm very sorry. I want to apologise to the entire Finnish team, the athletes and also the fans. I wish the team peace to focus on the Games and continue the good work. I will not comment further on the matter," Medved said.
The next ski jumping medal event will be the men's individual Large Hill on Saturday.