Sources in Spain claim that the deal has already been agreed, and bookmakers have slashed the odds of the Chilean manager arriving at the Etihad Stadium at the start of next season to a remarkable 1-10.
Pellegrini is currently enjoying a successful stint as manager of Champions League quarter-finalists Malaga, and the rumours emanating from Spain are likely to put a touch of distraction on City’s bid to win the FA Cup when they face Wigan in the Final on Saturday evening.
It now looks to be the case that even FA Cup glory would not be enough to save Mancini’s job, with City director of football Txiki Begiristain having reportedly met with Jesus Martinez, Pellegrini’s agent, in Spain last month.
Mancini attempted to laugh off reports of the meeting, but admitted he was unaware as to exactly why the two were seen in Madrid.
The Italian still holds considerable power at the club, but Begiristain and chief executive Ferran Soriano are working closely together to decide upon potential signings in the summer, and are also keep to implement a new 4-3-3 formation next season.
On Friday Mancini admitted he is well aware of how ruthless football is in relation to managers and their job security. Using his time at Internazionale as an example, he said: “I won seven trophies in Inter in four years and they sack me after four years [in 2008]. This is football. I know football enough to understand this situation.”
See what the expert tipsters at OLBG are tipping on Reading v Man City