Zenit St Petersburg have appointed Roberto Mancini as their new manager after failing to qualify for the Champions League for the second year in a row.

Zenit, who finished third in the Russian Premier League, said in a statement they had signed the 52-year-old Italian on a three-year contract with the possibility of a two-year extension. A source familiar with the contract told Reuters that the former Internazionale coach would be making €4.5m a year.

Mancini is one of the highest-profile foreign coaches to join the Russian Premier League in recent years. Zenit, who are bankrolled by the Russian energy giant Gazprom, have used their deep pockets to attract expensive foreign managers in the past, including Dick Advocaat, Luciano Spalletti and André Villas-Boas.

A new adventure on the @fczenit_en bench I'm very honored to have been chosen as their coach#Zenit is a club with a rich history. Go Zenit — Roberto Mancini (@robymancio) June 1, 2017

Mancini, who in 2012 led Manchester City to their first English title in 44 years, parted ways with Inter last summer after two seasons as head coach, ending his second stint as manager of the Serie A side.

Zenit said last week they had fired the Romanian coach Mircea Lucescu after one season with the club, without providing a reason for his dismissal.