Guardiola is almost two years into the three-year deal he signed in June 2016.
After delivering his first trophy – the Carabao Cup in February – the former Bayern Munich and Barcelona boss has now secured the title with five games left.
Although Guardiola stated throughout his time in England that he will not stay for long, ESPN reports the Spaniard is now ready to commit to another year.
The new contract is reportedly worth £20million and would make him the world’s best-paid manager, keeping him at The Etihad until 2020.
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