The AAIB said that a decision had not yet been taken on whether to lift the wreckage and it was considering its next steps in conjunction with the families of Mr Sala and Mr Ibbotson.
The wreckage was seen by a remotely operated vehicle that caught footage of the left side of the plane and a body amidst the wreckage, reported the AAIB in a statement.
Investigators say they plan to release an interim report into the accident later this month.
There was no immediate official confirmation of what was found but the shipwreck specialist leading the private investigation, David Mearns, said the missing plane had been discovered.
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Kansas City said it will have crews working split shifts Tuesday and Wednesday in anticipation of the freezing rain. Ice could total one-tenth to four-tenths of an inch, the National Weather Service said in an Ice Storm Warning.
Speaking to Argentine broadcaster Cronica TV on Sunday, Sala's father said he could not believe the plane wreckage had been found after two weeks of anguish and uncertainty.
The Piper Malibu aircraft went missing on January 21 after disappearing from air traffic control's radar while flying over the English Channel on the way to Cardiff, Wales.
"I can not believe it".
Cardiff City have yet to comment on the latest update provided by the AAIB in this morning's statement. "Tonight, our sole thoughts are with the families, and friends".
He said the Sala family had thanked him for locating the missing aircraft.Experts have pointed out the teams from Channel Island Air Search and Guernsey Coastguard had scrambled to look for signs of life and were not searching underwater.
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Bowlen's Broncos have had as many Super Bowl appearances as losing seasons - seven - since Bowlen purchased the team in 1984. He is suffering from Alzheimer's disease, which has put the future of the Broncos' franchise on uncertain ground.
When asked if it was possible to recover the body without raising the wreck, Mr Taylor said: "ROVs are sometimes able to grab on to items, but whether that would happen I don't know".
The authorities will now resume control of the investigation, Mearns said.
" There's a substantial amount of wreckage on the seabed", he wrote, adding: "This is about the best result we could have hoped for the families".
The private search mission was financed through a crowdfunding campaign, with French World Cup star Kylian Mbappe among the footballers donating to the initiative.
"But anyway, they kept saying days were going by, and that there had been zero words on Emiliano, or on the plane". During this game, Cardiff players held up a T-shirt bearing the image of the missing Sala, who never played a game for the club.
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As part of the Indiana Cancer Control Plan for 2018-2020, the ISDH is looking reduce cervical cancer deaths among Hoosier women. The writer is Consultant Medical Oncologist at Shaukat Khanum Memorial Cancer Hospital and Research Centre.