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Manuel Pellegrini, Manchester City Agree New Contract: Latest Details, Reaction

Manchester City manager Manuel Pellegrini has signed a one-year contract extension at the Etihad Stadium, tying him to the 2014 Premier League champions until the end of the 2016-17 season.

The club released a statement via their official website on Friday, with the Chilean tactician stating his excitement at remaining at the Citizens' helm for another two campaigns:

I am proud to manage Manchester City FC and am therefore very pleased to have agreed this contract. I have a very good quality group of players and a great team of people to work with on and off the field and at all levels of the Club.