The Ligue 1 new-boys, backed by Russian billionaire Dmitry Rybolovlev, have approached the Italian for the second time as he prepares for his Etihad Stadium departure
Monaco have offered Roberto Mancini the chance to become the club's new manager as his Manchester City exit looms, Goal understands.
Mancini is set to be sacked by City in the coming days, with in-demand Malaga boss Manuel Pellegrini expected to replace him at the Etihad Stadium.
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Mancini is already looking for another job which will allow him to compete at the top of European football after presiding over a limp Premier League title defence and Champions League group stage exit at City.
Paris Saint-Germain are another French club that could swoop up the soon-to-be-out-of-work Italian, with Carlo Ancelotti the favourite to fill Jose Mourinho's boots at Real Madrid when the Portuguese returns to Chelsea.
Monaco first approached Mancini last summer with a €8 million-a-year, tax-free deal to take over - an offer the Italian would have accepted had City not pipped rivals Manchester United to the title.
This year's Ligue 2 top dogs are well-backed by Russian billionaire Dmitry Rybolovlev, who is determined to transform them into a force capable of competing with Qatari-owned PSG.
Roman Abramovich has already found out the true scale of Rybolovlev's ambition, with Monaco beating Chelsea to the signing of Atletico Madrid striker Radamel Falcao after agreeing to meet his release clause.
Former Blues boss Claudio Ranieri is the man responsible for Monaco's return to the French top flight, but he is not regarded as a suitable choice to oversee the next stage of the club's progression.