The Blues finished in third place in the Iran football league under the leadership of the Portuguese coach.
They also lost to Persepolis in Iran’s Hazfi Cup Wednesday night.
Hojat Karimi, Esteghlal's caretaker, has said he will not increase Sa Pinto’s deal for the next season and it means the two parties will likely part company.
Ricardo Sa Pinto was named Esteghlal coach last year as Farhad Majidi’s replacement but failed to reclaim the title in the league.