LONDON, Nov 22, 2024 (BSS/AFP) - Pep Guardiola has extended his contract as manager of Premier League champions Manchester City for a further two seasons, saying Thursday "I could not leave now" with the club facing arguably the toughest period of his time at the Etihad Stadium.

There had been speculation the 53-year-old's City career could be coming to an end, with the club facing an uncertain future due to an ongoing hearing over 115 breaches of the Premier League's financial regulations -- charges they deny completely.

City are also currently on a four-game losing streak in all competitions -- the worst of Guardiola's managerial career, excluding penalty shoot-outs -- although they are second in the Premier League, five points behind leaders Liverpool.

But reports emerged on Tuesday that Guardiola, who took over at City in 2016 and has since won a total of 18 trophies across all competitions, including six Premier League titles, would stay.

This was despite City's director of football Txiki Begiristain, a close ally of Guardiola, having already confirmed his exit at the end of the campaign.

Begiristain is to be replaced by Sporting Lisbon's Hugo Viana, a former Newcastle player.

But with City on an English record-breaking run of four successive top-flight titles, Guardiola -- who led the club to a Premier League, FA Cup and Champions League treble in 2023 -- said he had changed his mind about this being his last season at the Etihad.

"Now I cannot leave," the Catalan boss said in an interview on the club's website after agreeing to remain at the Etihad until 2027.

"Maybe the four defeats were the reason why I felt I cannot leave."

Guardiola, who has repeatedly been asked about his future in recent weeks, added: "Since the beginning of the season I was thinking a lot in the moment, I will be honest, I thought (this season) should be the last one.

"But in the same moment the situation comes, the problems we have in the last month, I felt now was not the time to leave. I don't want to let the club down, I would say.

"I felt the confidence from the chairman (Khaldoon Al Mubarak) and Txiki and everyone, and I had the feeling I have to do it."
- 'Everything a manager could wish for' -

Guardiola said the treble, which saw City crowned champions of Europe for the first time in their history, represented a "dream come true", while four Premier League titles in a row was "amazing".

He insisted, however, he still had a job to do to help City hit those heights again.

"But you have a past, (there have) been lessons and mistakes that we have overcome to arrive in the moment where you are more stable and more consistent," he said.

"We have to recover that because right now we don't have it and that's the target we have to do."

Guardiola, who previously enjoyed a trophy-laden career as a player and coach at Barcelona before taking charge of German giants Bayern Munich, said in an initial club statement: "Manchester City means so much to me... I have a really special feeling for this football club. That is why I am so happy to be staying for another two more seasons."

Guardiola, who thanked the club's Abu Dhabi-based owner Khaldoon Al Mubarak, chairman Ferran Soriano, Begiristain and the fans for their support, explained: "I have said this many times before, but I have everything a manager could ever wish for, and I appreciate that so much.

"Hopefully now we can add more trophies to the ones we have already won. That will be my focus."

City chairman Khaldoon Al Mubarak said: "Like every City fan, I am delighted that Pep's journey with Manchester City will continue; allowing his dedication, passion and innovative thinking to continue to shape the landscape of the game."

The influence of Guardiola, renowned for his possession-based style of football, extends well beyond the Etihad, with two of his former assistants -- Mikel Arteta and Enzo Maresca -- now in charge of Premier League rivals Arsenal and Chelsea, respectively.