Frank de Boer is set to be named the new coach of Inter Milan after Roberto Mancini's departure was confirmed on Monday.
Mancini's future has been the subject of speculation throughout the summer, with reports of a rift with the new Chinese owners. President Erick Thohir had tried to dispel these rumours several times, branding Mancini their "star player" during a recent tour of the United States.
However, a 6-1 defeat to Tottenham Hotspur in the Nerazzurri's most recent friendly, following a 4-1 loss to Bayern Munich, appears to have been the final straw.
A statement released on the club's official website read: "Internazionale Milano confirms that it has parted company with head coach Roberto Mancini by mutual agreement.
"Inter would like to place on record its thanks to Roberto for the work carried out with the team since joining in November 2014.
"Last season the Club led Serie A until the Christmas break, ending the season in fourth place and qualifying for the UEFA Europa League.
"We thank Roberto for the work and commitment he has shown the Club over the past 20 months."
De Boer is reported to have arrived in Milan already and Voetbal International says an official announcement will be made in the next 24 hours.
Mancini only had a year left to run on his contract and had been growing increasingly frustrated by the lack of investment in his squad this summer. After Ever Banega arrived on a free transfer from Sevilla, only Antonio Candreva has been added.
According to La Gazzetta dello Sport, Inter directors first made contact with De Boer two weeks ago, while Mancini and the squad were in the United States.Mediaset television claims Mancini will receive payoff of €2.5 million.
La Gazzetta dello Sport also reported that only last week Inter's new owners had made Mancini an offer of a new three-year contract, which the 51-year-old turned down as it did not guarantee him a bigger say on transfers.
De Boer has never coached outside of the Netherlands, and did not play in Serie A either. He left Ajax in May after missing out on the Dutch title for the second successive season to PSV Eindhoven, having won the title in each of his first four seasons at the helm.