The 47-year-old, who guided City to last season’s Barclays Premier League title, signed a contract extension worth £7.5m a year.
He overtakes Arsenal boss Arsene Wenger, who is on £6m a year, and Sir Alex Ferguson, who earns a £4m basic salary atManchester United.
I wrote a couple of days ago about attempts by Russia to install Mancini as their national-team coach on a lucrative deal raised fears that he could be lured away from the Etihad Stadium. However, City have moved swiftly to secure the Italian’s future.
Speaking from City’s pre-season training base in Austria, Mancini said:
‘I am delighted to be able to give all of my efforts to Manchester City for a further five years. The opportunity to build on our recent success is enormous.
‘Manchester City is a fantastic club. I’m very much looking forward to the challenges and excitement ahead.’
Mancini has been richly rewarded for leading City to their first top-flight title in 44 years. The former Inter Milan coach’s new deal is worth more than double the £3.5m-a-year package he agreed in December 2009 that had just over 12 months to run.
City’s interim chief executive officer John MacBeath said:
“Roberto’s managerial credentials have been well proven in Europe for many years and in leading a team which has won the FA Cup and an unforgettable Barclays Premier League title in successive seasons, his ability to manage in the English domestic game is also undisputed.
“This new agreement allows Roberto to focus on the challenge of guiding a team which is capable not only of defending the Premier League title, but one which can compete for European honours.”