Sergio Conceicao leaves AC Milan after just 6 months, Allegri tipped to return to club
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The Portuguese coach took over from Paulo Fonseca in December and lifted the Italian Super Cup in just his second game with the club, beating rivals Inter in Saudi Arabia.
But the chance of more silverware disappeared with defeat to Bologna in the Coppa Italia final and an eighth-place finish in Serie A left them without European football next season.
A brief statement read: 'AC Milan and Sergio Conceicao will not continue their journey together next season.
'The club would like to thank Sergio and his staff for their commitment, professionalism and dedication shown during their time leading the first team over the past few months. The AC Milan family parts with the coach who won the 50th trophy in the club's history, wishing him the best for the future.'
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Reports in Italy suggest Massimiliano Allegri could be in line to return to the San Siro, having previously led the Rossoneri between 2010 and 2014.
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