Juventus manager Antonio Conte has left the Italian club on a mutual consent after the Italian club reportedly failed to meet his demands and invest funds on fresh talent this summer.
Despite enjoying a lot of domestic success with Juventus, helping them lift three back-to-back Serie A titles, the 44-year-old was reportedly disappointed with the Italian side Champions League form.
Last season, Juventus were unable to progress to the group stages of the Champions League despite being placed in a relatively easy group alongside Real Madrid, Galatasaray and Copenhagen.
Due to this reason, Conte had reportedly requested the Juventus hierarchy to invest in new talent this summer. However, when the Italian side's owners failed to comply, he offered his resignation.
"I have decided to terminate my contract with Juventus. I have matured with time and my feelings led me to make this choice. It may be more difficult to keep winning with Juventus," Conte, who took up the reins at Juventus in 2011, told the club's official website.
The former Siena manager, who also represented the club as a player from 1991 to 2004, thanked the club for helping him mature as a player as well as a manager.
"An enormous thank you for what you have given to me as a player and as a coach. I have always been close to you. I want to say that the journey taken in recent years has been historic," he added.
Meanwhile Juventus' chairman Andrea Agnelli, who was unhappy after hearing of Conte resignation, thanked him for his excellent work at the Turin based club over the past three years.
"Dear Antonio, you have been a great leader and this news saddens me greatly. Three years together have led us to write history with three consecutive titles and two Italian cups," Agnelli's statement appeared on the club's official website.
"You have given a group of highly talented professionals, who will be at the disposal of the new coach to continue writing the future," he added. "You are in the history of the Bianconeri colours and whatever choice you make, a Juventus victory will always make you smile. Antonio, thank you for everything. Till the end."
The former Atlanta boss, who was being linked with the free-spending Ligue 1 side Monaco last season, is being tipped to take over as the new head coach of Italy, following Cesare Prandelli recent departure after the Azzurri's premature exit from the group stages of the 2014 World Cup.