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Manchester City manager, Manuel Pellegrini, has signed a contract extension with the club and will continue to coach the first team till June 2017, the club confirmed on Friday.
The Chilean has been subject to a lot of speculation after failing to defend the Premier League crown last season. Manchester City finished second in the league above Arsenal but below Chelsea. Ex-Barcelona and Bayern Munich manager Pep Guardiola was the hot favourite had City have sacked their manager.
Speaking of the news, Ferran Soriano, Chief Executive Officer of Manchester City Football Club said: "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."
Along with Manuel Pellegrini, his backroom team of Ruben Cousillas, Xabier Mancisidor and Jose Cabello have also been awarded similar contract extensions.
A delighted Pellegrini had this to say on the extension: "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 have been criticised for their inactivity in the transfer window but this summer has seen the arrival of three home-grown talents in Raheem Sterling, Fabian Delph and Patrick Roberts.
They are also on the lookout to sign more players with Wolfsburg's Kevin de Bruyne on top of their transfer list. They're also interesting in bringing in another striker given the departures of Alvaro Negredo, Edin Dzeko and Stevan Jovetic leaving Sergio Aguero and Wilfried Bony as the only available senior striking options.
Earlier this summer, it looked as if Yaya Toure would depart the club and possibly join Inter Milan but those rumours were quashed after Ivorian himself confirmed that he wanted to stay at Manchester City.
