By Italy correspondent Gianluigi Carrozzini

Antonio Conte and Diego Simeone have emerged as the two favourites to become the next Chelsea manager, Football Insider sources understand.

Italy manager Conte and Atletico Madrid boss Simeone are in the sights of the Premier League champions as they work on a list of a targets.

There remains interest in Juventus boss Massimiliano Allegri and, to a lesser extent, Chile coach Jorge Sampaoli.

But a Chelsea source has told Football Insider that Conte and Simeone will be given the opportunity to impress the Blues’ top brass, including Roman Abramovich and technical director Michael Emenalo.

A delegation from the London club has travelled to Rome for talks with Conte, who will step down as Italy boss in the summer.

The 46-year-old is believed to have already told the FIGC – the Italian football federation – that he wants to return to club management after this summer’s tournament.

He is ready for a new challenge outside of Italy, having previously won three Serie A titles with Juventus as a manager and five as a player. Sources also claim the Italian is continuing to take English lessons in preparation.

Roman Abramovich is weighing up whether to axe manager Jose Mourinho

Axe man: Abramovich is targeting his sixth manager in seven years

Interim manager Guus Hiddink will leave Stamford Bridge at the end of the season after being drafted in for a second temporary stint in charge of the club.

Jose Mourinho, who is in advanced talks to become the new manager of Manchester United at the end of the season, was sacked by Chelsea in mid December following a wretched run of results.