Mancini led Man City to their first title in 44 years last May but a withering defence of the title, which was surrendered to rivals Manchester United with four games of the season still to go, was instrumental in his dismissal.
He is expected to be replaced by Malaga manager Manuel Pellegrini, although no formal comment has been made by the club about this. The club said that the parting of the ways was due to the Italian’s failure to meet any of the club’s targets this season, except for qualifying for the Champions League.
Manchester City lost the FA cup final last weekend to a stoppage time Wigan winner, and finished bottom of their Champion’s League group.
The club posted a statement on the official club’s website, stating: “It is with regret that Manchester City football club announces that Roberto Mancini has been relieved of his duties as Manchester City manager. This has been a difficult decision for the owner, chairman and board to make and it is the outcome of a planned end-of-season review process that has been brought forward in light of recent speculation and out of respect for Roberto and his extensive contributions to the football club.
“Despite everyone’s best efforts, 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.
“This, combined with an identified need to develop a holistic approach to all aspects of football at the club, has meant that the decision has been taken to find a new manager for the 2013-14 season and beyond.”