The wreckage was found hours after the search started near the Channel Island Guernsey by a private rescue operation hired by Sala's family.
At the moment, Sala's family members alongside the pilot have been contacted regarding the development, as experts from the Air Accident Investigation Branch are being mobilized to recover the plane from the scene.
The AAIB will discuss their next steps with the families of the pilot and the passenger and police.
The plane, a Piper Malibu with the registration N264DB, had been taking Sala to Cardiff from Nantes in France on 21 January, shortly after the 28-year-old signed for the Premiership club Cardiff City. "But anyway, they kept saying days were going by, and that there had been zero word on Emiliano, or on the plane", he said.
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It's like in a business, we have money on hand, and we're building, I would say we have a hundred and fifteen miles of wall, maybe a little bit more than that very shortly".
Underwater searches were carried out using specialist vessels on February 3 over the priority search area and, according to AAIB, uncovered an "object of interest" on the seabed.
Marine scientist David Mearns, who is directing the private search on behalf of the Sala family, said: "Tomorrow the weather will be good".
A search on Sunday found the Piper Malibu plane on the seabed off Guernsey, nearly two weeks after it went missing.
Sala was aboard the Piper Malibu aircraft on January 22 as he flew from Nantes to Wales after completing a £15m ($19.8m) transfer to Cardiff City. A statement will be made on Monday morning following the latest development.
'I want to help them, as simple as that, any way we can, ' said Mearns, speaking on Guernsey on Saturday.
Earlier on Sunday, players and fans at Cardiff City football club paid their respects to Sala before their match against Bournemouth.