For City, this is hopefully the end of a long winding saga until next summer when it seems likely he will exit. That can wait as this season is of huge importance.
Pep Guardiola will no doubt be happy a key player is staying after the amount of upheaval this season. Silva has been a key player and keeping him can only help, The chase while exhausting, seems to be over now.
City have been pretty strong this summer window and keeping Silva is a huge win for Txiki and company. Silva will perform well and next year with good planning and a target I foresee a deal being worked out.
For now, City keep their man and can improve this season with a now relatively tight squad.