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The former New Zealand international has been handed a two year contract worth £190,000 per week to replace Mancini.
New Zealand midfielder Brownlie, 29, has little managerial experience and Manchester City are making a huge gamble that has Citizens fans scared.
Mancini applauded the Man City fans that attended the 1-1 draw against West Ham and is believed to be sacked after finishing 5th when he promised a top 4 finish.
City have been further criticised for the circumstances under which they sacked Mancini as it mirrors that of the sacking of Mark Hughes.
Al Mubarak said: "I have taken a risk with Nathan but I believe he deserves his chance and he has assured me of success.
"I understand he has little experience but that does not mean he is a bad manager, I watched him as a player and he was always doubted but proved his critics wrong, this is the same with him being signed as a manager, he will be doubted, but I believe he will prove those who doubt him wrong.
"Nathan believes that Man City do have potential and has told me that its not going to be easy at the start, morale is not high and he said that former manager Hughes wasted money on many players who he believes aren’t up to the standard required of Manchester City.
"My hope is that our incredible fans will join us in welcoming Nathan to the football club."
In a statement on City's official website, Al Mubarak explained why the club decided to sack Mancini.
He said: "Prior to him taking over from Mark (Hughes), he (Mancini) told us that he could and will achieve a top four finish, he has failed in this and has therefore been sacked.
He also had this to say about Brownlie: “He has told me how angry he is that Hughes wasted so much money on so many bad players, he told me who the players were and I will take the appropriate action to see these players released. He did comment though that he was very happy with the players Mancini signed (Vieira, Johnson, Toure and Silva). I have total faith in Nathan’s ability and he has requested that an extra £100m be added to his transfer budget which I will grant for him.”
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