The Italian guided Chelsea to the Premier League title just one year ago in what was his debut season at Stamford Bridge.
'During Antonio's time at the club, we won our sixth league title and eighth FA Cup.
Official word goes that Conte parted ways with the London based club on Thursday.
Former banker Sarri, 59, will be Chelsea's ninth full-time manager since Roman Abramovich bought the club in 2003.
"Sarri is close to being new Chelsea manager".
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The agency didn't respond to Business Insider's request for comment on why six of the intended 63 children weren't reunited. A court-imposed deadline to reunite immigrant children under five with their parents by July 10th will likely not be met.
The club also believes that his deteriorating relationship with many players and him constantly bad-mouthing the club in public during press conferences means that they could get away without paying Conte his compensation.
It was clear that the Italian manager would not continue in his role after he fell out with a number of players and openly criticised the club's spending.
'We wish Antonio every success in his future career'.
Chelsea's Italian head coach Antonio Conte looks on during the English Premier League football match between Watford and Chelsea at Vicarage Road Stadium in Watford, north of London on February 5, 2018.
The appointment of Sarri could help Chelsea land Napoli's Jorginho.
In any event, the working relationship between Conte and Chelsea is over - as soon as that is made public by the club, the appointment of Sarri, with Blues legend Gianfranco Zola as part of the backroom team, will nearly certainly follow shortly after.