Manchester City are reportedly prepared to hand Julian Alvarez a new contract later this year.

The 23-year-old only completed the switch to the Etihad Stadium at the beginning of this season having penned a deal until the end of 2026-27.

Despite being highly-regarded by Pep Guardiola, Alvarez has needed to remain patient for regular game time due to the competition for places at the Premier League giants.

In total, Alvarez has been provided with 12 starts and 17 substitute outings in all competitions, contributing nine goals and two assists.

However, Alvarez's stock rose considerably through his efforts for Argentina at the World Cup, a tournament where he chipped in with four goals from seven matches.

There is little prospect of the versatile attacker being allowed to depart City for the foreseeable future, regardless of his current status in the senior squad.

Nevertheless, according to The Mirror, City are ready to reward Alvarez for his performances for club and country since the end of July.

Agreeing fresh terms is expected to be a formality for both sides, with any new contract likely to run until 2028 or 2029.

Although Alvarez can claim to be enjoying a solid debut campaign in English football, he has only played more than 45 minutes on one occasion in the last five fixtures.

The former River Plate star completed the 90 minutes during the 1-0 defeat to Tottenham Hotspur, and he featured during the second half versus Aston Villa on February 12 after Guardiola chose to rest Erling Braut Haaland.

In the past week, however, Alvarez has remained as an unused substitute versus Arsenal and he was only introduced versus Nottingham Forest three days later in the 88th minute.

Alvarez will hope for a recall to the starting lineup when City square off against RB Leipzig in the first leg of their Champions League last-16 tie on Wednesday night.