Pep Guardiola has reportedly reached an agreement with Manchester City to extend his contract at the Etihad Stadium.

Speculation over the 53-year-old's long-term future in charge of the reigning Premier League champions has been rife for some time, with his current contract due to expire in the summer of 2025.

Guardiola, widely regarded as one of the greatest managers of all time, is currently enjoying his ninth season in charge of Man City, who have won a total of 18 trophies - including six Premier League titles - under his tutelage.

The former Barcelona and Bayern Munich boss admitted at the end of last season - after winning an unprecedented fourth successive Premier League title - that he is "closer to leaving than staying" at Man City, sparking suggestions that the current campaign could be his last at the Etihad.

Guardiola's future was cast further into doubt when his close friend Txiki Begiristain announced in October that he will be stepping down from his role as director of football at the end of the season, with Sporting Lisbon's Hugo Viana chosen as his replacement.

The Catalan has since remained coy on his future when speaking to the media, insisting that he is yet to make a final decision on whether he wishes to remain at Man City or seek pastures new at the end of the season.

Guardiola to sign one-year extension with option of additional year

Reports earlier this season claimed that Guardiola is leaning towards signing a short-term contract extension with the Citizens, as he likes the idea of completing at least 10 years at the Etihad.

It has also been suggested that Guardiola is 'more likely' to stay at Man City even if they are found guilty of the 115 financial charges levelled against them by the Premier League.

At the end of last week, it was claimed that Guardiola's new deal was '99%' done following positive talks between himself and Man City's hierarchy.

Now, The Athletic states that Guardiola has agreed to put pen to paper on a new one-year contract extension, with the option of an additional year.

The report adds that an official announcement confirming Guardiola's new contract is expected 'in the coming days'.

Meanwhile, journalist Fabrizio Romano claims that Man City were always confident in keeping hold of Guardiola and they never spoke to any potential successors.

Does Guardiola's new Man City deal come as a blow for Brazil?

Guardiola's new contract is set to represent his third extension since joining Man City in 2016, and it will be his third in the month of November having agreed his previous two deals in Abu Dhabi in the same month.

The Catalan's decision to commit his future to Man City for at least another season is also set to postpone speculation linking him with international jobs including Brazil and England.

Guardiola was touted as a potential candidate to succeed Gareth Southgate as England manager earlier this year, but the Three Lions have decided to appoint a different foreign manager in the form of Thomas Tuchel, who will officially take charge from January 1, 2025.

Meanwhile, the Brazilian Football Confederation (CBF) have reportedly called Guardiola several times to gauge his interest in managing the Brazil national team, while football icon Ronaldo is allegedly keen to hire the Man City boss if he takes over as president of CBF.

Guardiola has expressed his desire to manage at international level at some stage in his career, but that seems to be a long-term ambition as he eyes further success in the short term with Man City.

If Guardiola's new deal is not officially announced before Man City face Tottenham Hotspur in the Premier League on Saturday, he will presumably be asked about his future when he addresses the media on Friday.