Guardiola has won six Premier League titles and the club's first ever Champions League since arriving at the Etihad in 2016.

The former Barcelona and Bayern Munich coach's current contract expires at the end of the season.

There had been speculation that Guardiola's time could be coming to an end with City facing an uncertain future due to an ongoing hearing over 115 breaches of the Premier League's financial regulations.

The club's director of football Txiki Begiristain, a close ally of Guardiola, has confirmed his departure at the end of the season.

The Athletic reported that the 53-year-old will pen a one-year extension to his deal with the option for another year.

Guardiola also signed his two previous contract extensions at City during the November international break.

The English champions return to action on Saturday, looking to snap an unprecedented losing streak for their manager.

Guardiola has lost four consecutive games for the first time in his coaching career.

Hit by the loss of Ballon d'Or winner Rodri to a season-ending knee injury, City have fallen five points behind Liverpool at the top of the Premier League after defeats to Bournemouth and Brighton.

They also lost 4-1 to Sporting Lisbon in their last Champions League outing and were eliminated from the League Cup by Tottenham.

But the retention of one the most decorated coaches in football history would be a massive boost to the morale of City players and fans.

Guardiola has won 15 major honours in total during his eight full seasons in Manchester, which also includes two FA Cups, four League Cups, one Club World Cup and one UEFA Super Cup.