Mancini has struggled at Eastlands English Premier League side Manchester City have sacked Italian manager Roberto Mancini. In a statement on their official website, City described the move as "difficult" for the Abu Dhabi-based owners. "The Club has failed to achieve any of its stated targets this year, with the exception of qualification for next season’s UEFA Champions League," the statement added.
Chairman Khaldoon Al Mubarak said: "Roberto’s record speaks for itself and he has the respect and gratitude of Sheikh Mansour, myself and the Board for all of his hard work and commitment over the last three and a half years.
"He has clearly also secured the love and respect of our fans. He has done as he promised and delivered silverware and success, breaking the Club’s 35-year trophy drought and securing the title in 2012.
"I would like to personally and publicly thank him for his dedication to the progress that he has overseen and for his support and continued friendship."
Stories emerging in the Spanish press earlier this week claimed that City would replace the Italian with Malaga's Chilean coach Manuel Pellegrini.
However, speaking on Sunday evening, Pellegrini denied he had spoken to City about replacing Mancini as the club's manager.
"I categorically deny that I am the new Manchester City coach, nothing has been signed and no agreement reached," he said on Malaga's website following their 0-0 draw with Sevilla.
"I've been fortunate enough, and very proud, that every year the big Clubs are interested in me.
"I have an agreement with Malaga not to talk to anyone and nothing has been agreed with any other outfit. I hope the future of this Club will become somewhat clearer in the next few days."
Speaking after City's shock 1-0 loss to Wigan Athletic in Saturday's FA Cup final at Wembley Stadium, Mancini criticised his employers for not publicly addressing the rumours.
"You continue to talk about this for six months and also in the last two weeks, too much.
"I don't know why the club didn't stop this, because I didn't think it was correct. I don't think that it's true."
As well as their FA Cup final defeat, City failed to keep pace with Manchester United in the defence of their Premier League title and were knocked out of the Champions League in the group phase.