Pep Guardiola is ready to commit his future to Manchester City by signing a new long-term contract - but only once he has lifted his first trophy.

The former Barcelona manager has agreed terms on a deal worth almost £20million a year, which would see his annual salary rise by around £3m.

Guardiola's current contract is due to expire at the end of next season, but he will put pen to paper on an extension to keep him at the Etihad until the summer of 2021.

The Spaniard gave no assurances that he would stay beyond the three-year deal he signed in 2016, but is now keen to continue his project at City.

However, Guardiola wants to collect his first piece of silverware before his new contract is officially announced by the club.

That could be as soon as next week, with City taking on Arsenal in Sunday's Carabao Cup final at Wembley Stadium.