• Guardiola to take over from Manuel Pellegrini on 1 July
• City to pay Pep Guardiola £15m per year at the Etihad
Monday 1 February 2016 08.37 EST Last modified on Monday 1 February 2016 12.21 EST
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Pep Guardiola will have at least £150m to spend on players when he replaces Manuel Pellegrini as the Manchester City manager in the summer. The Spaniard’s salary will also rise to €20m (£15.2m).
City’s standing as the richest club in the world along with next season’s record Premier League broadcast deal of £5.14bn means Guardiola will be given the backing to enter the market as he wishes in the close season. The club’s finances will be further swelled by the new overseas broadcast deal that is expected to be a minimum of €3bn.
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Guardiola is a close friend of City’s director of football, Txiki Begiristain, and is expected to consult with him regarding transfers before taking over on 1 July.
Guardiola earns €17m at Bayern Munich but this is to increase by €3m in recognition of his standing as one of the world’s most sought after managers. City believed they were close to signing the 45-year-old in 2012 before he decided to take a sabbatical and this strengthened Guardiola’s bargaining position with regard to the three-year contract he signed.
City are confident that now Pellegrini’s departure in the summer is official it will galvanise the squad into playing for the popular manager rather than making him a lame duck. Pellegrini has been aware of City’s preference for Guardiola since he replaced Roberto Mancini in July 2012 and would have been less accepting of the club’s move if it had been any another manager.
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Pellegrini was informed of the decision last week by Khaldoon al Mubarak, the City chairman, and it is understood the relationship between the two men remains amicable.
City have no problem with Pellegrini now discussing where he may manage next with prospective clubs. The view is that Chelsea could be interested and given the 62-year-old won the Premier League in his first season with City and is minded to remain in English football Stamford Bridge would be of interest.