Ranieri took over at Chelsea in 2000.

LONDON, England -- Chelsea have confirmed that manager Claudio Ranieri is leaving Stamford Bridge.

A club statement announcing the end of the Italian's four season tenure, said: "We are discussing the exact terms of his departure with him and his representatives."

Ranieri is expected to be replaced by Porto coach Jose Mourinho, who has just guided the Portuguese team to Champions League success.

The statement said: "Chelsea Football Club today announce that Claudio Ranieri is to leave the club. Claudio has done a first-class job for the club and has paved the way for future success.

"We would like to wish Claudio all the best for the future."

The club spokesman added that no immediate announcement would be made on Ranieri's successor, but Chelsea expected to say something within the next 48 hours.

Ranieri's job has been under threat since Chelsea were taken over by Russian billionaire Roman Abramovich in July.

Abramovich spent more than 100 million pounds ($183 million) on new players and Ranieri piloted his new-look squad to the semifinals of the Champions League and second place in the Premier League.

Ranieri, 52, replaced compatriot Gianluca Vialli at Chelsea in September 2000. He has also coached Valencia, Fiorentina and Atletico Madrid.

Ranieri had admitted that he expected to be replaced, joking in March that he was a "dead man walking." But he said earlier this month that he would love to stay and finish the team-building job he started this season.

"I think my plan was right, the foundation of the team is good, the spirit of the group is also good and the football has been good," said Ranieri. "Now I can only pass the ball to Roman."

He has said that he would like to stay in the Premier League: "I work very well in England. I love the passion and atmosphere and would like to continue my job here."