The Chilean, who has already confirmed he will be leaving the Primera side after next weekend's final game of the season, is focused on Sunday night's penultimate match with Deportivo la Coruna and helping Malaga qualify for Europe.
He told a press conference: "I have answered this many times (questions about City). Once we have played Deportivo we will see about my future and where I am going. I haven't signed any contract yet."
He added: "Once I have finished here in Malaga - Malaga have qualified for Europe - and completed the match we will see where my future lies.
"But now I will only discuss my present position with Malaga."
City have just completed a two-game post-season tour in the United States where they twice beat Chelsea.
City midfielder Gareth Barry is aware of Pellegrini's pedigree.
He told Sky Sports News: "I don't know too much about him but people who do know him and who have played with him have spoken highly of him so that's good."
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