When WordPress is installed in a subdirectory, the "subscribe" link in "You can also subscribe without commenting" refers to a link of the root directory.
I have appended to the $manager_link the blog url function and it worked.
so this code:
$manager_link = get_option('subscribe_reloaded_manager_page', '');
$manager_link = get_bloginfo('url').get_option('subscribe_reloaded_manager_page', '');