Roberto Mancini sacked as Manchester City manager

"I deny here and now being the new coach of Manchester City, I haven't signed any agreement with anybody," he said after Malaga's goalless Primera Division draw with Sevilla.

City thanked Mancini for the job he had done, with chairman Khaldoon Al Mubarak saying: "Roberto's record speaks for itself, he secured the love and respect of fans.

"He has done as he promised and delivered silverware and success."

City added in their statement that it was "a difficult decision", explaining it was "the outcome of a planned end of season review process that has been brought forward in light of recent speculation."

The 48-year-old Italian replaced Mark Hughes in December 2009, winning the FA Cup in 2011 and City's first top-flight league title for 44 years in 2012 - a year to the day before his sacking.

Just last July he signed a new five-year deal with the club.

But this term, City are a distant second to champions Manchester United, went out in the Champions League group stages and lost the FA Cup final to Wigan.

However, besides on-the-field performance, the club's statement also suggested that there were other reasons to make the change.

The statement said: "[Failure to achieve targets] 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."

BBC Radio 5 live senior football reporter Ian Dennis said that the reference to the 'holistic approach' of the club was crucial to Mancini's departure.

"What has gone against him is his man-management style," said Dennis.

"It is other issues other than performance which have undermined him. When you look at the flashpoints that Mancini has had this season that gives you an indication of the difference in holistic approach that City are looking for."

Mancini was critical of Manchester City officials for failing to deny the newspaper reports that surfaced on the morning of Saturday's FA Cup final stating he would be sacked and replaced by Pellegrini.

City were beaten by Ben Watson's 90th-minute header at Wembley as Wigan, struggling to avoid relegation from the Premier League in 18th place, became the lowest ranked team to win the FA Cup since West Ham in 1980.

City thrashed rivals United 6-1 at Old Trafford in October 2011 en route to their first Premier League title and although they beat them again on their home ground this season, Sir Alex Ferguson's team wrapped up their 20th league crown last month with four matches remaining.

Mancini's record in the Champions League has also come under scrutiny.

-BBC