Manchester City have vowed not to be rushed into appointing a successor to departed manager Stuart Pearce.

After just over two years in charge, Pearce was yesterday axed by the Eastlands club following a dismal campaign which saw City register an all-time low of 10 goals for a top-flight home campaign.

Without a goal on home soil since New Year's Day, booed off in virtually every match since and with season-ticket sales about to slump, it seemed inevitable Pearce would leave and City chairman John Wardle has wasted no time in getting rid of Kevin Keegan's successor, just 24 hours after the 2-1 defeat at Tottenham.

''Manchester City can confirm that the club has terminated the contract of manager Stuart Pearce with immediate effect,'' said a club statement.

In a simple one paragraph appreciation, chief executive Alistair Mackintosh thanked Pearce for his efforts on City's behalf and wished him well for the future.

The timing of Pearce's departure led to instant speculation about an 11th-hour bid to derail Sam Allardyce's move to Newcastle.

Allardyce had made no secret of his desire to join City but such a move was never on the cards, especially at prospective new owner Thaksin Shinawatra is not thought to be a fan.

Shinawatra's financial advisors are due to complete due diligence on the Blues this week and then provide indications as to whether they will proceed with a formal bid.

The response of the former Thai Prime Minister will be crucial in the timescale of the appointment of City's next manager, although Paul Jewell is not believed to be a candidate either.

Instead, City will take stock of the situation before deciding which direction they should head for a new manager.

If Shinawatra does take control at Eastlands, a big-name international replacement can be expected, with Gerard Houllier and Claudio Ranieri among the contenders.

Should Shinawatra opt not to pursue his takeover aims, it is looking likely current chairman John Wardle will continue in the role, which could result in a home-based appointment.

However, it is virtually impossible to envisage Wardle following the lead of Wigan counterpart Dave Whelan by appointing Pearce's deputy Steve Wigley, who is almost certainly on his way out as well.

Preston's Paul Simpson, Billy Davies and Chris Coleman have all been mentioned as potential candidates, as has Peter Reid, who steered City to a top half finish in all three of his seasons in charge of the Blues during the early 1990s.