Ranieri had been in charge of Roma since September 2009

Former Chelsea manager Claudio Ranieri has resigned as coach of Serie A side Roma after they surrendered a 3-0 lead to lose 4-3 against Genoa on Sunday.

It was Roma's fourth successive defeat and they dropped to eighth in Serie A.

They are nine points behind city rivals Lazio in fourth, the lowest place from which it is possible to qualify for the Champions League.

Roma confirmed on Monday that they had accepted Ranieri's resignation after meeting with the 59-year-old.

Ranieri, who managed Chelsea from 2000 to 2004, took over at the Italian club in September 2009 and guided the Giallorossi to second place in the league last season as well as the Coppa Italia final.

Ranieri's resignation is an act of great responsibility and dignity Italy national team coach Cesare Prandelli

But the club is up for sale, with American consortium DiBenedetto currently in a 30-day period for exclusive talks to buy the club, and Ranieri had not been offered an extension to his contract, which was due to expire at the end of June.

"Roma wishes to thank Claudio Ranieri for the professionalism shown and the work done," said a club statement.

Roma went into the January transfer window competing in Serie A, the Coppa Italia and the Champions League, but Ranieri was not able to sign any players.

"Ranieri's resignation is an act of great responsibility and dignity," said Italy national team coach Cesare Prandelli, who was in charge of Roma in 2004.

"I don't know the dynamics of the team so I cannot enter into specifics, but we all remember last year's Roma that managed to keep up with Inter until the end of the season.

"The Italian league is very difficult and you have to have the right mentality and continuity in form to do well. I think that when something breaks, the responsibility is not just of one person."

In midweek, Roma's Champions League campaign suffered a severe setback after the 3-2 home defeat by Shakhtar Donetsk in the Stadio Olimpico.

Roma have conceded 14 goals in their last four games and visit Bologna on Wednesday before hosting Parma this weekend.

Former Roma striker Vincenzo Montella is the current youth team coach at the club and has been linked with the managerial vacancy.

Italian Ranieri is a vastly experienced manager, having coached numerous other Serie A teams, including Juventus, as well as Spanish clubs Valencia and Atletico Madrid.

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