City close in on Ranieri

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The former Chelsea boss has been identified as the preferred successor to Stuart Pearce by prospective new owner Thaksin Shinawatra.

Although Ranieri has denied any contact with the Blues, it is believed contact has been made through a third party, with the Italian indicating a willingness to return to the Premiership at the end of his short spell with Parma.

Understandably, Ranieri has been unwilling to commit himself publicly to City while Parma were still embroiled in a fight for Serie A survival.

However, thanks largely to the inspired loan signing of Manchester United striker Giuseppe Rossi, Parma are now on the brink of safety, which could be secured with a game to spare if they beat Lazio in the Olympic Stadium on Sunday.

There is still quite a bit of red tape to cut through, including Shinawatra's need to make a formal bid.

But once that is done, there appears to be nothing stopping City from announcing Ranieri as their new manager.

It appears the Italian - who guided Chelsea to the Champions League semi-finals and runners-up spot in the Premiership before being replaced by Jose Mourinho - will benefit from a £50million summer transfer kitty should Shinawatra seize control of the Eastlands outfit as expected.