Not entirely unexpected. Details soon.
Update: Chelsea release a statement on Ancelotti
"Chelsea Football club can confirm that Carlo Ancelotti parted company with the club today (Sunday, 22 May)," the statement read.
"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 you were too good for those Neanderthals. Money can buy you a team, it can't buy you class. They have no patience, they don't know how to build a legacy, they don't know football. You recorded the first double in their history and this is how you get repaid. For what it is worth I respect your intelligence, your dry wit, and your accomplishments. You're the anti Mourinho and will always prove a refreshing counterpoint.