Manchester City boss Pep Guardiola is ready to sign a new contract.

However, he won't put pen to paper until he wins his first trophy with the club.

The Daily Mail says he 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.