Manuel Pellegrini
Manuel PellegriniReuters

Manuel Pellegrini has admitted that Liverpool and Chelsea have a better chance of winning the Premier League title following Manchester City's 2-2 draw against Sunderland.

The Citizens suffered a huge setback in the title race and dropped two precious points courtesy of the stalemate at the Etihad against the relegation threatened Black Cats on Wednesday. The result caused City to reduce the seven-point deficit on league leaders Liverpool by just one.

However, Pellegrini is still refusing to concede defeat in the title race as his side are currently third in the league table having 71 points from 33 matches. City trail leaders Liverpool and second-placed Chelsea by six and four points respectively and both teams have played 34 matches.

"Of course, our chances are now less. We have five games more in which to play. Liverpool has a better chance than us (of winning the league) and Chelsea but we will continue fighting until the end. Three points was very important for us tonight (against Sunderland), but we will continue fighting," Pellegrini told City's official website.

"I don't think we played with any less confidence following the game against Liverpool. Before the match I was worried about this game. Playing against a team fighting relegation is very difficult and we had only four days to get over the Liverpool game."

City previously won the league during the 2011/12 campaign ousting Manchester United in a dramatic manner on their last fixture of the season. Pellegrini is desperate for a similar miracle to reoccur in his first season in charge and is keen to bring the title back to the Etihad this season.

"This team was six points behind the leaders two years ago and won the title. We have five games more to play and we will continue to have chances. My duty is now to talk to the players and to win the last five games. At the end of the season we will analyse," the 64-year-old Chilean concluded.

Should City win all their remaining fixtures, they still need Liverpool and Chelsea to drop at least three and two points respectively in their four fixtures for the Citizens to clinch the title on superior goal difference.