Inter have officially announced the termination of Antonio Conte’s contract by mutual consent, reportedly at a cost of €7m.

The Nerazzurri only lifted the Serie A trophy on Sunday, celebrating their first Scudetto in a decade.

However, the financial difficulties of the club and owners Suning prompted the necessary down-scaling of their project.

“FC Internazionale Milano can confirm that an agreement has been reached with Antonio Conte for the termination of his contract by mutual consent,” read a brief statement.

“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.”

According to Tuttomercatoweb and Sky Sport Italia, the eventual cost of the termination was €7m.

La Repubblica maintain as part of the agreement, Conte cannot sign for another Serie A club in the next season.

This is more than the €6.5m originally offered, but less than the €9m that Conte had requested, with one year left to run on a contract worth €12m per season.

Conte had taken on the role in the summer of 2019 from Luciano Spalletti and took the club to the Europa League Final, then won the Scudetto in his second season.

There are several clubs interested in hiring Conte, including Tottenham Hotspur, Barcelona and Real Madrid.

This exit continues a remarkable trend in Inter’s recent history, as ever since Jose Mourinho won the Treble in 2010, the coach who took silverware has then immediately left.

The same happened with Rafa Benitez and the Club World Cup, then Leonardo and the Coppa Italia, now Conte and the Serie A title.

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