Mancini has offered himself to the club and is ready to take Pellegrini’s place, should Real decide to axe their coach.
“I am the best coach that Real Madrid could have – my initials are not R.M. by chance,” he is quoted as saying by El Pais.
Mancini has denied speaking to El Pais, but admitted to Italian news agency ANSA that he would be keen on the job.
“Every coach would be honoured to coach Real Madrid, I’m ready for a new challenge,” Mancini announced.
“I’m thankful for the attention I’ve received in the Spanish press, even though I’ve not telephoned any journalists and I’ve not issued any statements that were reported in the press today.
“I’m ready for a new club and for a new challenge in Italy or abroad. Any coach would be honoured to be able to sit on the bench of such a prestigious club as Real Madrid.”