"The club and Simone Inzaghi are parting ways. This is the decision taken by mutual agreement," Inter said in a statement.

Both Inter and Inzaghi said the decision had been made at a meeting involving the coach and club President Giuseppe Marotta on Tuesday afternoon.

The parting came just days after Saturday's 5-0 thumping by Paris Saint-Germain in the Champions League final.

Talk had already been swirling about his exit, and last month Inzaghi played down rumours about a two-year deal with Saudi Pro League club Al-Hilal worth 50 million euros.

Italian media said Tuesday this reported had been confirmed.

Inzaghi took over Inter in 2021 and had a contract until 2026.

The 49-year-old guided the club  to one Serie A title - Inter's 20th - and two Italian Cups. He led the team to two Champions League finals in the past three seasons but lost both.

On track to repeat the treble heroics of 2010 just a few weeks ago, Inter ended the season trophyless after falling away in each competition.

In its statement, the club said Inzaghi's management was "characterised by great passion, accompanied by professionalism and dedication".

His trophies had "brought the club back to the top of Italian and European football", it said.

Marotta thanked him "for the work done, for the passion shown and also for the sincerity in today's discussion, which led to the common decision to separate our paths".

"Only when we have fought together to achieve success day by day, can we have a frank dialogue like the one that happened today," he said.

In a separate statement, Inzaghi thanked the players, managers and staff, but most of all the fans, adding: "I will never forget you."