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Manchester City confirms Pep Guardiola will be their manager next season

Manchester City manager Manuel Pellegrini addresses the media regarding his impending exit with the club. Pep Guardiola will take over for Pellegrini.

On Deadline Day, the biggest news has nothing to do with transfers, but rather with managers.

[ MORE: Pep to take City to next level ]

After months of speculation, Manchester City has confirmed that Pep Guardiola will be the club’s new boss next season.

[ MORE: All the latest transfer news ]

Guardiola announced earlier this year that he would leave Bayern Munich and move to England this summer, and City became the early favorites to be his landing spot. Now, that move is official.

In a statement released by City on Monday, the club announced that Guardiola has signed a three-year contract at the Etihad.

Manchester City can confirm that in recent weeks it has commenced and finalized contract negotiations with Pep Guardiola to become MCFC Head Coach for the 16/17 season onwards. The contract is for three years. These negotiations were a re-commencement of discussion 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 Pellegrini, 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.

Pellegrini spoke to the media today, saying he has known about this situation and will leave City when his contract expires on June 30.

[ MORE: Three Premier League clubs that need to spend on Deadline Day ]

With Pep now officially on his way to Manchester, City will become instant favorites to win the Premier League and make a deep run in the Champions League. This is the move City has wanted for so long now, and they have finally landed the top manager in the game.