Chelsea agreed a compensation package which could be worth up to £9million with Conte, who had one year left on his contract.
However, somewhat farcically, Chelsea themselves are still yet to release any sort of official confirmation that Conte is no longer their manager.
Former banker Sarri, 59, will be Chelsea's ninth full-time manager since Roman Abramovich bought the club in 2003.
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However, Conte's apparent dismissal drew a response from Chelsea's Cesc Fabregas, who liked a tweet a Chelsea fan posted about Conte having been sacked although the Spanish 2010 World Cup victor subsequently claimed he had liked it by accident.
Speculation had shrouded his position last season, as Conte did little to hide his dissent over Chelsea's transfer business in the summer of 2017 and winter of 2017-18, making thinly-veiled criticisms of "the club".
Relations soured between Conte and the board, and performances were soon affected.
The former Juventus boss led Chelsea to the Premier League title in his first season in charge of the London club. Carlo Cudicini is still at the club and he is likely to help Eddie Newton take training today.
"I wish you every success in the future". Gianfranco Zola will return to Chelsea on Sarri's staff.