Its not an easy decision for the board to take this one as they have been solidly behind Mancini but he hasn't worked the wonders they expected, I am sure about that.
What is clear to me (and TH alludes to it) is that JM WONT go to United for a number of years, if at all.
Also, I did make the point some months ago that Mourinho had to take the job at Real when he did as the FFPR would limit the big buys he wanted/needed to make in the future - and we all know that JM likes to buy players who are more matured.
City will be a different 'project' as the FFPR can easily be worked around with owners such as ours - something unique on world football.
So assuming that Chelsea aren't a realistic option as the ego of Abramovich wont allow it and the ego of JM needs him to 'beat' Roman to consider going back there are possibly only 3 - 5 jobs that he would consider.
Also he has stated categorically that his next move will be back to England.
Man U, City, Liverpool, Arsenal and England.
It might be that Wenger is simply untouchable as Fergie is at United so those two jobs are no no's - and of course who would want the presence of either at the club as you try to manage - similarly the way Fergie struggled as Sir Matt sat in the stands in his early years.
Liverpool could be an option but they are likely not to have any European football for 2 seasons now and that is a big downgrade for JM - that said the owners at Anfield have been rather slow to confirm KD on a permanent deal and one has to wonder why?
England is something I think he would consider only once all club work has been done so its too soon now.
So we have ickle City, the club with land, money and a stadium about to expand.
The club with the widest possible, tallest, highest and most amazing plans for shaping football in the history of the game.
He would be buying into making some real history not carrying on other peoples success.
He would be fully backed in every aspect of what he would be doing and would be working with an owner and a board who are loved by the fans but who NEVER get involved in team affairs (at least not that much Mr Marwood).
And of course he would be on such huge money as to make bankers blush.
But would he move from Real when apparently the board there have recently acceded to his demands for full control? Well I will suggest that Real are readying him for a big slap in the face come the summer or even before.
JM is being provided with enough rope with which to hang himself and failure in the CL will open the trapdoor controlled by Perez.
And the talk about the Real squad being young, learning and being ready for next year is perhaps the cleverest of all JM's moves.
If he moves he can point to Real doing so well because of his work this year, if Real fail he can say its because he's not there.
Overall a fantastic few months of debate and tens of thousands of column inches are ahead of us ;-)