Massimo Moratti has quit as president of Inter Milan, bringing to an end a big-spending but ultimately unsuccessful eight-year stint at the helm of the club.
Moratti, the son of late legendary Inter president Angelo Moratti who led the club to glory in the 1960s, took over vowing to bring back the glory days.
But in spite of a reign characterised by big spending and the frequent sacking of coaches - including two world record deals to sign Ronaldo (1997) and Christian Vieri (1999) - he only had the 1998 UEFA Cup to show for his investment.
A statement on club website, www.inter.it, said: "FC Internazionale informs that president Massimo Moratti, Marco Tronchetti Provera, Paolo Giulini, Angelo Mario Moratti and Angelo Moratti have this evening announced their resignation from the club board.
"The president Massimo Moratti has recommended the name of vice-president Giacinto Facchetti to the board for the role of president.
Facchetti is one of the greatest players in Inter's history and is a current vice-president of the San Siro club.