Club CEO Ferran Soriano, added: "Pep's new contract extension is fantastic news for Manchester City".
The 20 clubs between them have split a staggering £2.42BILLION this season, from annual Premier League income that is now more than £3bn a year, the vast majority from TV deals either at home or from overseas.
Guardiola has been one of Europe's most successful coaches in recent times, winning three league titles and two Champions League trophies during his time at Barcelona before moving to Bayern Munich, where he also conquered the league on three occasions.
City’s players toured Manchester on an open-top bus
"I'm so happy and excited. It's a pleasure to be able to work here", Guardiola said today.
Arsenal have been going backwards in recent years and some of their players have had their foot off the gas for far too long, so you would expect to see a more improved Gunners side emerging with a new manager at the helm.
City chairman Khaldoon Al Mubarak saluted Guardiola's ability to unify his squad of rising young talents and established stars.
Elon Musk pitches 150 miles per hour rides in Boring Company tunnels for $1
The company, however, is taking baby, comparatively boring, steps in LA first. Musk was joined by The Boring Company director Steve Davis.
Despite his praise for them, the two teams finished 23 and 25 points behind his Manchester City side, respectively, in the Premier League. From where I want to play, how I want to play, with who I want to play with and how we are doing it.
I am very much looking forward to the continued impact of his work and to fulfilling our shared ambitions in the coming seasons.
City declined to reveal if... We have all been privileged to witness the success the team has enjoyed this season.
BSF Jawan martyred in Pakistani firing in J&K's RS Pura sector
The Pakistan Rangers again resorted to unprovoked firing along the Line of Control (LoC) in the RS Pura . He was critically injured at Jabowal BoP around 1:30 am and died en route to GMC Hospital in Jammu .
Not for the first time this season Cardiff City manager Neil Warnock lost out to Wolves boss Nuno Espirito Santos who won the Championship's accolade.
City won the title with a record 100 points but received a payout of £149.44 million ($201.91m) - £328,491 ($443,820) less than biggest earners United, who got £149.77m ($202.35m).
Bloggers, cyber spies face jail as Kenyatta signs controversial law
Under the new law, using a phone or computer to commit crime could send you to prison for two years and cost you Sh5 million. This Bill amends various provisions of the Public Trustee Act, bringing it into conformity with the Constitution.