Manuel Pellegrini's contract to manage Manchester City has been extended until June of 2017. The news which should put to rest, at least for now the rampant speculation about Pep Guardiola comes on the eve of the new Premier League season.
Ferran Soriano, Chief Executive Officer of the club said the following:
We are delighted to reach this agreement with Manuel Pellegrini who has already contributed so much to the development of Manchester City in his first two years with us and we look forward to further progress in the seasons ahead.
"This agreement allows Manuel to focus on the challenge of guiding a team capable of both fighting for domestic titles and competing for European honours."
Pellegrini whose position has come under constant media speculation said,
"I am proud to manage Manchester City FC and am therefore very pleased to have agreed this contract.
"I have a very good quality group of players and a great team of people to work with on and off the field and at all levels of the Club.
"I am focussed on the coming season and confident that my team and I will respond to the constant support shown to us by everyone including of course our fantastic fans.
Manchester City kicks off the new Premier League season against West Brom on Monday.