Serie A champions Inter Milan have parted ways with Antonio Conte after he led the club to a first title in 11 years.
According to a statement by Internazionale Milano, Antonio Conte’s contract has been terminated by mutual consent.
In May, the former Chelsea and Juventus manager signed a three-year contract worth a reported 12 million euros ($14 million) a year.
Antonio Conte has a special place in Inter’s history with his work culminating in the club’s 19th top-flight title. Inter is ever-grateful to Antonio for his extraordinary work.”
Suning’s owners have been at loggerheads with the 51-year-old Italian over planned cost cutting which would prevent him from building the team he wants to challenge at home and in Europe.
During the last season, Inter registered losses of 100 million euros ($122 million), mostly due to the Coronavirus pandemic.
After winning the Chinese Super League, Suning Group’s club Jiangsu FC was shut down in February.
With a reported loan of over three years, Inter received 275 million euros from a US investment firm five days ago.
Conte believes the Suning’s desire to compete at the top level in Europe is incompatible with their strategy of saving as much money as possible on the purchasing of new players and their salaries.
The club lost to Sevilla in the Europa League final last summer and finished second in the league behind Juventus.
In the past three seasons, Conte has blamed the club’s lack of investment for their failure to compete in the Champions League.