Roberto Mancini has been sacked as the manager of Manchester City.
"It is with regret that Manchester City Football Club announces that Roberto Mancini has been relieved of his duties as Manchester City Manager," the club said in a statement adding he
"failed to achieve any of the club's stated targets this year, with the exception of qualification for next season's Champions League," added the statement.
While City failed to defend their Premier League title, conceding it to Sir Alex Ferguson's Manchester United with considerable time left, it was their failure to beat lowly Wigan Athletic in the last week's FA Cup final that proved to be the final nail in the Italian's coffin.
With City bowing out in the group stages of the Champions League and early in the League Cup, the FA Cup was their only chance at silverware this season.
Mancini's assistant, Brian Kidd, will take charge for the remaining two matches of the season, beginning with Wednesday's clash against relegated Reading. Besides, Kidd will also preside over the summer tour of the United States.
If reports are to be believed City have already agreed to terms with Malaga coach Manuel Pellegrini. The Chilean has albeit denied any such deal.
For Mancini the sacking marks a disappointing end to his tenure at Eastlands. The Italian had taken over from Mark Hughes in December 2009 and ensured considerable success for the blue half of Manchester.
While City won the FA Cup in 2011, their first trophy since the League Cup in 1976, a year later Mancini led them to a first Premier League title in 44 years.
The Italian had a success rate of almost 62 per cent in the Premier League - only behing Jose Mourinho (71), Fergie (65) and Carlo Ancelloti (63) and better than Arsene Wenger (58) and Rafa Benitez (55), with City winning 82 of the 133 games under his management (with just 24 losses).
However, in the end all these factors were not enough to save Mancini from the sack.