Defeat at Arsenal in April looked to have ended City's challenge but Manchester United let an eight-point lead slip and Mubarak was delighted with the Italian's management of the squad following defeat at the Emirates.
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"We had two choices," Mubarak told City's official website.
"We could either raise the white flag and sulk or pick ourselves up and fight until the last second of this championship.
"I had a conversation with Roberto. We both looked at each other and decided to take the pressure off everyone.
"What Roberto did magnificently was to take the pressure off the entire team.
"Roberto is a winner, he is a very strong character, who wants to win more than anyone I have ever seen. He is so driven and has an incredible amount of energy."
When asked if the club would continue their spending spree during the summer transfer window, Mubarak was quick to highlight the current strength of their squad.
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"We have a championship-winning team," the chairman continued.
"We are not starting from the same point as in other pre-seasons.
"We have had to improve in a very dramatic manner. Now we have a nucleus. To improve further we have to harness that nucleus."