Inter Milan will part ways with manager Roberto Mancini if the club fail to qualify for Europe's top competition, the UEFA Champions League reports from Il Quotidiano Sportivo suggest.

Inter have slumped down to 5th in recent weeks with just one victory in five. In their last two outtings, Inter have been downed 3-0 by Juventus in the Coppa Italia semi-final first leg and Milan in the derby della Madonnina at the weekend.

Previously an ever present feature in the Champions League, Inter have had to settle for the second tier Europa League in recent years as the club struggle to match the formidable form shown the decade before. Between 2005 and 2010 the club amassed an almighty 15 trophies including the Champions League on one occassion. Other trophies include four straight scudetto's and and four Coppa Italia's

Means a lot financially

The difference in revenue between competing and the Champions League and Serie A is massive compared to just featuring in the latter and the much needed funds would go a long way in returning Inter to former glories.

The mercato signing of Eder however could provide Inter with some much needed goals if they wish to find themselves in the Champions League places come season end.

Simeone could be the replacement

Enigmatic Atletico Madrid boss Diego "El Cholo" Simeone is the man Inter would want to replace 51-year-old Mancini with should he fail in the club's ambitions.

The Argentine boss, once of Inter as a player has been at the helm of the Vincente Calderon outfit for just over four years and brought the club great success guiding them to a Champions League final and a La Liga title.

Mancini apologises for derby interview meltdown

Following Inter's dismantling at the hands of arch rivals Milan - where Mancini was dismissed and has since been handed a one-match ban and fine of €5000 - he took part in a live television interview post match with Mediaset.

Many times the former Manchester City boss snapped at reporter Mikaela Calcagno and left the interview on a sour note by slamming his set down and cursing towards her.

It is being reported across Italy that Mancio has now apologised to Calcagno by sending her flowers.