Manzano's Atletico future uncertain
Manzano only joined the capital club last summer from Mallorca and enjoyed a solid first term in charge leading his side to a seventh-placed finish in La Primera.
However, the Atletico top brass were hugely disappointed to miss out on European qualification - although they only did so on goal difference - and Manzano could now pay the price for that failure.
Atletico president Enrique Cerezo insists no decision has yet been taken on the manager's position, but declared Manzano's chances of being in charge next season were no better than those of the candidates tipped to succeed him.
"I have already said that after last Sunday we were going to talk about the future and see whether Manzano continues," Cerezo stated.
"We are evaluating and after that the coaching staff as well as us will decide.
"Manzano at this point has the same options as other coaches."
A host of names have been put forward as candidates to replace Manzano including Luiz Fernandez, Hector Cuper, Miguel Angel Lotina, Juande Ramos and Cesar Ferrando.
Meanwhile, reports in Spain suggest that Atletico have already identified the players they want to add to their squad for next season with Mallorca's Samuel Eto'o and Celta Vigo's Peter Luccin top of their wish-list.