Manchester City have announced that manager Manuel Pellegrini has extended his contract with the club until 2017.
Pellegrini, 61, was appointed City boss in 2013 on a three-year contract, succeeding Roberto Mancini, and in the 2013-14 season he led the club to the Premier League title and League Cup.
The Chilean was unable to defend the club's league title last campaign, though, as they finished as runners-up behind champions Chelsea.
CLUB STATEMENT: Manuel Pellegrini extends contract. Read: http://t.co/xXN1tS1KhO #mcfc pic.twitter.com/oKJiTqAooX
- Manchester City FC (@MCFC) August 7, 2015
There had been speculation about Pellegrini's future at the Etihad Stadium, with the likes of former Borussia Dortmund coach Jurgen Klopp and Bayern Munich boss Pep Guardiola linked, but he has now put pen to paper on prolonged terms.
The former Real Madrid manager said on City's official website: "I am proud to manage Manchester City FC and am therefore very pleased to have agreed this contract.
"I have a very good quality group of players and a great team of people to work with on and off the field and at all levels of the club.
"I am focussed on the coming season and confident that my team and I will respond to the constant support shown to us by everyone including of course our fantastic fans."
City's chief executive officer, Ferran Soriano, said: "We are delighted to reach this agreement with Manuel Pellegrini who has already contributed so much to the development of Manchester City in his first two years with us and we look forward to further progress in the seasons ahead.
"This agreement allows Manuel to focus on the challenge of guiding a team capable of both fighting for domestic titles and competing for European honours."
Pellegrini has an extensive managerial career which includes stints at Real, River Plate, Villarreal and Malaga.