The Catalan coach is one year into a three-year deal at the Etihad, but despite ending the season without a trophy for the first time in his managerial career, Perarnau insisted Guardiola is settled at City.

"He's very happy, absolutely," Perarnau told the 93:20 podcast. "I never saw him so happy, so comfortable than this time in Manchester.

"Sometimes people think that to enjoy it you have to have success and, of course, everybody loves that. But you can be happy and comfortable also if sometimes you don't win and this is the case for Pep this year. He's very disappointed with the results -- but not the process of the season."

Asked if he would extend his deal, Perarnau, who has written two books about Guardiola, said: "I'm sure that during this next season at some moment, him and [chief executive] Ferran [Soriano] and [chairman] Khaldoon [al Mubarak] will talk about this.

"I don't know where and when -- probably not during the hottest part of the season, when there are matches every three days."

Here are some reasons why Guardiola could extend his time at the Etihad, but also some potential reasons for sitting on his current deal ...

Why sign a new deal?

Guardiola and his young family are already comfortably settled in Manchester and enjoy a more relaxed lifestyle than during his time in charge at Barcelona. At Camp Nou, he was under constant scrutiny and the pressure reached the point where he felt so drained that he had to take a year out of the game. Though he admits it doesn't quite match Barcelona for the food and weather, Manchester is a much less intense experience away from football and, with City, he doesn't face the same forensic assessment of every decision he makes.

On the pitch, success at City could potentially represent the greatest achievement for a coach already regarded as the best in the world. Though he has been accused of underachieving in his first season for failing to win a trophy or mount a significant title challenge, Guardiola has already begun an extensive rebuilding project. The likes of Leroy Sane, Gabriel Jesus, Raheem Sterling and John Stones had encouraging seasons and all are very young. Bernardo Silva, 22, and Ederson Moraes, 23, have already been added this summer and there is huge excitement at how this side could grow together. But after a disappointing exit from the Champions League in the last 16, it's possible that it could take several years before Guardiola has transformed them into a side capable of taking on the biggest clubs in Europe season after season.

Guardiola has also been tasked with replicating his success at Barca by bringing through young talent from the club's Academy. He has already identified talent from the youth team -- Jadon Sancho, Phil Foden and Brahim Diaz -- but he has said they are not quite ready for the first team. The City boss has admitted it's frustrating that he doesn't have the option of a 'B' team that helped the development of players in Spain, but he has made it a personal challenge to ensure that he can get some of those youngsters into the first team.

It's another reason why the City hierarchy have such overwhelming belief in their manager and why they allow him and his team such freedom to shape the future of the club. Mubarak admitted he was disappointed after predecessor Manuel Pellegrini won the League Cup, finished fourth in the Premier League and reached the Champions League semifinals, while he said was delighted with the progress this season under Guardiola. He hasn't always enjoyed such support -- at Bayern Munich, some ex-players weren't satisfied when Guardiola delivered three successive Bundesliga titles. Such faith would be hard to find at other big clubs on the continent and, after previous experiences, Guardiola has said he is very grateful to receive that support from the board.

EPA/Peter Powell

Why Pep might wait?

Guardiola has escaped too much criticism in his first season but that is set to intensify, particularly after another summer of heavy spending. And despite his total belief he can bring success, there are no guarantees. Though he doesn't feel the quality of the Premier League is better than anything he has faced before, the relentless competitiveness is new. Too many points were dropped against lower table sides last season and pressure will grow on the City boss if he is not among the early pacesetters.

He might also decide it is not the right time to tie himself down to a long stay. Guardiola has been loyal to clubs throughout his playing and managerial career and it would be extremely uncharacteristic of him to walk away from the club if a better offer came from elsewhere.

But he has said that he has ambitions to coach elsewhere in the world -- saying in the past he is interested in Italy, and there is also the possibility to manage on the international stage.