Pep Guardiola remains fully committed to Manchester City and the club intends to maintain managerial "continuity", according to chairman Khaldoon Al Mubarak.
Guardiola is in his fourth season at the Etihad Stadium, equivalent to the time he spent in charge of Barcelona.
The Catalan's contract runs until 2021 but there have been rumours of interest from Bayern Munich, the club he guided to three successive titles before moving to England.
But after welcoming a new $500million private equity investment in the City Football Group, the Premier League side's Abu Dhabi-based owners, Al Mubarak intends to keep hold of the prized head coach.
"Pep has been an incredible asset to this organisation. We can speak about his managerial accomplishments for hours," Al Mubarak told Sky Sports.
"But I think as a person, as an individual, as a friend, he's been a core part of what we've accomplished here over the last three years.
"He's very committed. We're committed to him. You've seen his interview a couple of days ago.
"We have a great relationship. We have a great environment here. The people around him, the team we have in place today, the relationships I have with them, this is really an environment that's conducive to success for both him and everyone involved.
"So I'm very satisfied with his commitment and our commitment to him and I'm looking forward to the continuity of this for years to come."
City's long-term planning has reportedly led the club to open contract discussions with star forward Raheem Sterling.
Al Mubarak would not divulge details of a potential new deal but said: "I'm very proud of what Raheem has done over the last couple of years.
"His evolution as a player, but more importantly as a person I think has been exceptional.
"He's become a leader both on and off the pitch. He's become a leader in this squad at Manchester City, he's becoming a leader at England serving his country. And I think he's been a leader in the community.
"I'm so happy for him because I think he's a wonderful young man and I think his talent, listen, there's one thing I'm sure of - Raheem is only going to improve and only going to grow as both a player and a leader, so the future is incredibly bright for Raheem and it's a pleasure to have him as a part of our team."
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