Claudio Ranieri has said his "dream died" when Leicester sacked him.
The Italian led the Foxes to last season's Premier League title, but on Thursday he lost his job.
In a statement, he said: "Yesterday, my dream died. After the euphoria of last season and being crowned Premier League Champions all I dreamt of was staying with Leicester City, the club I love, for always. Sadly this was not to be."
Roberto Mancini, the favourite to replace Claudio Ranieri as Leicester manager, has expressed his sympathy for his compatriot following his sacking.
Ranieri was dismissed in the wake of his side's 2-1 Champions League defeat to Sevilla on Thursday night, just nine months after leading the Foxes to the most improbable of Premier League title successes.
The Italian defied odds of 5,000-1 to land the title for Leicester, but this season has been a different story, with the club lying just one point above the relegation zone.
Assistant manager Craig Shakespeare and Mike Stowell will take interim charge ahead of Monday's match against Liverpool, but former Manchester City manager Mancini, who had a short spell as a player with the Foxes and is available after leaving Inter Milan last year, is the favourite to replace Ranieri on a permanent basis.
Mancini said on Twitter: "I am sorry for my friend #Ranieri. He will remain in the history of @LCFC, in the heart of #Leicester fans and all football lovers."
Leicester winger Marc Albrighton has denied he had any part in Claudio Ranieri's sacking
Jamie Vardy has joined Kasper Schmeichel in denying any involvement in Claudio Ranieri's sacking as Leicester City boss
Leicester City interim manager Craig Shakespeare has said the club will have "utmost respect" for former manager Claudio Ranieri.