The 45-year-old left his position as Juventus coach in July by mutual consent, though rumours suggested assurances over the summer market were not met.
Now, according to La Gazzetta dello Sport, the coach has agreed a two-year deal with salary of €3.6 million, with €1.6m coming from the FIGC, €100,000 less than former coach Cesare Prandelli, and the remaining amount being paid by sponsors.
Azzurri sponsors Puma also released a statement confirming they would support it FIGC.
“Puma is determined to support the FIGC as well as all other associations it have a partnership with. Puma will support evert policy decision that the Italian Federation has on a new coach. Our goal is to be successful together.”
Conte, who will become the second highest paid national team coach after Russia’s Fabio Capello, is expected to be officially appointed later on Thursday or Friday.