"Massimo Moratti has resigned as president of Inter with immediate effect," Inter said in a statement. "Massimo Moratti wishes to thank all the fans for the affection and trust they have always shown him.
"He also wishes to thank all the players that have honoured the Inter shirt over the years for their commitment and sacrifice," the short statement concluded.
Moratti, who has spent a fortune in trying to recreate his father Angelo's European Cup-winning "Grande Inter" of 1964 and 1965, had come under increasing pressure in recent months following Inter's disastrous season.
Moratti took over the job as president in February 1995, 27 years after his father left the post he had held since 1955.
Despite this season's poor results, Inter did win the UEFA Cup last year while the club's best final placing under him in Serie A was as runners-up to Juventus last season.
Reuters
