Premier League: Manchester City confirm Pep Guardiola to replace Manuel Pellegrini

Manchester City manager Manuel Pellegrini has confirmed that he will be leaving the club in the summer, with the Sky Blues confirming he will be replaced by Pep Guardiola.

The Chilean has confirmed he will be stepping down on June 30, with a year still left on his contract, to be replaced by the current Bayern Munich boss for next season.

The CIty board have announced Guardiola has signed a three-year deal.

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Guardiola's future has been the centre of intense speculation ever since he announced he would be leaving the Bundesliga champions and that he wanted to manage in the Premier League.

As well as City, Manchester United, Chelsea and Arsenal had all reportedly been chasing his signature.

The Premier League club's statement read: "Manchester City can confirm that in recent weeks it has commenced and finalized contractual negotiations with Pep Guardiola to become MCFC Head Coach for the 2016-17 EPL season onwards.

"The contract is for three years. These negotiations were a re-commencement of discussions that were curtailed in 2012.

"Out of respect for Manuel Pellegrini and the players, the club wishes to make its decision public to remove the unnecessary burden of speculation.

"Manuel, who is fully supportive of the decision to make this communication, is entirely focused on achieving his targets for the season ahead and retains the respect and commitment of all involved with the leadership of the club."