Ranieri has confirmed his intention to succeed Stuart Pearce as boss at the Eastlands outfit providing prospective new owner Thaksin Shinawatra pushes through his takeover plans.

That process has proved painfully slow for City fans anxious to know who is going to be in charge of their club next season.

Having initially given the impression a deal would be concluded for Shinawatra to buy the 29% stake of chairman John Wardle and business partner David Makin by the end of this month, talks have dragged on, with paperwork now being handled by Shinawatra's lawyers.

Although the former Thailand Prime Minister's advisors have insisted the process will not be halted by the damaging ruling in Bangkok yesterday that Shinawatra had been involved in electoral malpractice, a verdict which prevents him taking up any political role for five years, an irrevocable undertaking to buy Wardle and Makin's shares, without which Ranieri cannot be appointed, is not expected for at least another week.

With an outline pre-season programme in place but unannounced, City officials remain relaxed about the situation, believing there will only be need for concern in terms of potential signings should the matter remain unresolved by the beginning of June.

And, as Ranieri has effectively turned his back on the opportunity to remain with Parma, who he guided to Serie A safety following his arrival in January, an element of certainty is becoming apparent.

"The Manchester City challenge reminds me of the experience I had at Chelsea where without spending £1, we built a good team," Ranieri told Gazzetta dello Sport.

"I created the Chelsea miracle from nothing. My achievement convinced (Roman) Abramovich to buy the club. Then, mountains of money came as well as a selection of top players."

The 55-year-old is unlikely to receive anything like the windfall Abramovich provided.

However, a transfer kitty of £50million has been suggested, which would at least allow City to compete for players at a level they were unable to do during Pearce's two years in charge.

So committed is Ranieri to the idea of managing City, he has already set his sights on tackling the giant of Manchester United, whose manager Sir Alex Ferguson has already seen 11 Blues bosses come and go during his illustrious two decades at Old Trafford.

"The idea is to face Manchester United as soon as possible and be at the same level as them in the standings," he said.

"With Manchester City, I hope to complete every stage. This time, I have been chosen whereas before, Abramovich found me at the club."

Given City have not won a trophy of any description since 1976, competing at the same level as United appears a fanciful notion, especially given the work Ranieri finds he needs to carry out when he eventually takes up the reins.

Former skipper Sylvain Distin has already left, with controversial midfielder Joey Barton set to join him should Newcastle meet the £5.5million figure stated in the England international's contract.

At least one, and probably more, new striker is a top priority considering City's paltry goals return last year, while the midfield and defence will also need reinforcing.

Ranieri though is enthused by the challenge.

Having experienced life in both Spain, with Valencia, and Italy, with Parma, since leaving Chelsea, whom he guided to the Champions League semi-finals in 2004, Ranieri is in no doubt England is now the place to be.

"At this time, English football is a fascinating window that hypnotises you," he said.

"Some of the richest men in the world would do ridiculous things in order to buy an English club because the Premier League has become a luxury stage.

"To return to England means to be at the centre of something important."