The Italian coach ends his reign as manager of the Nerazzurri just three weeks after leading the Italian capital club to a first title in 11 years.
It would be recalled that Inter won the title by 12 points from nearest challengers AC Milan to emphatically end Juventus’s near-decade of domination at the top of Italian football.
Conte was determined to keep hold of his core of talented players like Slovakian defender, Milan Skriniar and Belgian striker, Romelu Lukaku, but the club chairman Steven Zhang had drawn up plans to cut the team’s wage bill by up to 20 per cent with the sale of key players, shifting the focus to developing young talent.
The coach departs with one year remaining on his contract at San Siro and will receive around €7m in severance pay.
The club, backed by Chinese owners, said the termination of Conte’s contract was by “mutual consent”.
A statement from the club reads;
FC Internazionale Milano can confirm that an agreement has been reached with Antonio Conte for the termination of his contract by mutual consent.
The club would like to thank Antonio for the extraordinary work that he has done, culminating in Inter’s 19th top-flight title. Antonio Conte will forever remain a part of our club’s history.
🚨 | STATEMENT
Official statement from FC Internazionale Milano 👇 https://t.co/GRzpRBMU7A
— Inter 🏆🇮🇹 (@Inter_en) May 26, 2021
According to SkySports, the 56-year-old manager resigned over plans by club owners to reduce the wage bill and sell some star players to bring in profit, instead of investing in the team for the coming season.
Simone Inzaghi is expected to replace Conte in the dugout.