Mancini did not guide the team to any trophy for the club this season, losing the EPL title to fellow city neighbours Manchester United which he won last year and also losing the FA Cup to Wigan on saturday to complicate matters but he did qualified for the UEFA champions league.
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."
Speculation making the rounds is that Malaga coach Manuel Pellegrini is being lined up as a replacement but earlier on Monday the Chilean denied he had spoken with City and said no agreement had been reached.
Assistant manager Brian Kidd will be in charge for City's remaining two games of the season and the post-season tour to the United States.
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