Mancini revealed his intention to quit the Nerazzurri in the summer in the aftermath of Inter's Champions League defeat to the Reds on Tuesday night, despite having four years left on his contract.

It was thought president Massimo Moratti would discuss the situation with Mancini on Thursday but talks have already taken place with former Lazio boss Mancini performing a dramatic U-turn.

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"No one other than the great president Moratti, the Inter fans, and the Inter squad, can understand how we felt after missing out on such a big objective that we all wanted to achieve (winning the Champions League)," said Mancini in a statement on the club's official website, www.inter.it.

"I hope all football fans can understand the outbursts made in a delicate moment. The coach is always the reference point in a team, but within that team are even deeper emotions.

"After the game coach Roberto Mancini spoke from the heart. I want to thank the president for giving me strength in that moment and for understanding me.

"I'm sorry for the misgivings and misunderstanding born out of that moment.

"The squad knows we are ready to fight to the end to win our third scudetto and next season to win the Champions League.

"Finally I want to thank the Nerazzurro fans who supported us to the end last night and cheered us from the field."

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Moratti added: "I've had a chat with Mancini, who reassures me that he wants to stay at Inter not only for the next season but for the remainder of his contract and that next season he wants to win the Champions League.

"So the situation is very different from the one explained to me, to the club and to the squad this morning."

Mancini has led Inter to the last two Serie A crowns and the club are on course for a treble as they lead Serie A by six points from Roma.

His agent will be pleased his client has had a change of heart.

Giorgio De Giorgis earlier spoke of his hope that 43-year-old Mancini would reconsider.

"I do not exclude at all the possibility that he will remain at Inter. I hope he does," said De Giorgios on Wednesday afternoon.

"Club president Massimo Moratti values him and he values the president, so I hope he will stay. We must understand the reasons behind this unexpected decision."

Reports in Italy were quick to link Jose Mourinho with the post but the Portuguese's personal advisor played down talk of the former Chelsea boss taking over at the San Siro, although he did insist his client will be in charge of a top European club next season.

Eladio Parames told PA Sport: "As far as I am aware he has not spoken to the Inter president.

"What happens is that his background speaks for itself so it's natural that the media keep writing, talking and speculating about him.

"Papers mention the Liverpool job too, but Mourinho has had no contact there either.

"Definitely he will be managing a top-flight club in Europe next season. I can not tell you which club it will be, but he will be back, for sure."

Mancini's initial announcement left the Inter squad stunned, with some struggling to digest the news.

"I didn't know anything about this," said striker Julio Cruz. "But then again in the heat of the moment many things are said.

"Obviously it's his decision and I don't know what he is thinking, it's difficult to say something.

"We just have to look ahead and end the campaign in the best possible way."