Here is a release from Chelsea regarding parting ways with Carlo Ancelotti.

Chelsea Football Club can confirm that Carlo Ancelotti parted company with the club today (Sunday, 22 May).

The owner and board would like to thank Carlo for his contribution and achievements since taking over as manager in July 2009, which included winning the Double for the first time in the club’s history.

However, this season’s performances have fallen short of expectations and the club feels the time is right to make this change ahead of next season’s preparations.

Carlo will always be welcome at Stamford Bridge, where he will be given the reception and respect his position in our history deserves.

Chelsea’s long-term football objectives and ambitions remain unchanged and we will now be concentrating all our efforts on identifying a new manager.

There will be no further comment until that appointment is made.

The announcement came just hours after the final kicks of the season, when Chelsea was upset 1-0 by U.S. keeper Tim Howard and Everton at Goodison Park. That left the big-spending Blues nine points adrift of Premier League champions Manchester United.

The 51-year-old Ancelotti had seen his future with the club come into question in recent weeks as it became more apparent Chelsea would not repeat its 2009-10 title run.

“Now that the season is finished, the club can judge my job and after that we must wait but we did not arrange a meeting up until now,” Ancelotti had said after today’s loss to Everton but before learning his fate. “I think last year was really good but this season was not so good.”

Ancelotti managed at Juventus and AC Milan prior to taking over the London outfit in 2009. The Italian then led the Blues to the Premier League title and the FA Cup title in 2010.