The Italian made his comments after his team's 0-0 draw at West Ham United, which again illustrated some of the attacking problems that have left them with only one point in Europe ahead of tomorrow's home match against Ajax, and minimal prospects of getting through to the last 16.
"I don't think we are ready to win a Champions League. If we said [we are], we are not honest. I think we are a good team. We are not ready like other teams," The Independent quoted Mancini, as saying.
According to the paper, Mancini also spoke about City's other Champions League problems, comparing them to Chelsea over the last decade.
"Chelsea for how many years tried to win the Champions League when they were probably the best team in Europe? And they won after 10 years, probably when they didn't deserve. We are not ready to play, to win a Champions League properly," he said.
The City boss also criticised Mario Balotelli for missing opportunities against West Ham, if not quite for the striker's dissent on being substituted, the paper said.
"I think he should be disappointed for [missing chances], not because he leaves the pitch in the last 25 minutes. If you want to win a title again, we can't lose a point like today," he said, (ANI )