Manchester City announced Pep Guardiola will take over as its new manager at the end of the season after Manuel Pellegrini confirmed he will leave the club in June.
Guardiola had already revealed he would depart Bayern Munich at the conclusion of the 2015-16 campaign and City has now confirmed the Etihad Stadium will be his next destination. He will begin his tenure with a three-year contract, the team said.
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"Out of respect for Manuel Pellegrini and the players, the club wishes to make its decision public to remove the unnecessary burden of speculation," the team's statement read. "Manuel, who is fully supportive of the decision to make this communication, is entirely focused on achieving his targets for the season ahead and retains the respect and commitment of all involved with the leadership of the club."
Pellegrini signed a one-year extension last August to tie him to the club until 2017 but will now go when his previous deal was due to expire.
"I talked with the club and told them I will finish my contract on the original date [June 30]," Pellegrini said at a news conference. "I could have extended my contract for one more year, but decided not to. There has been a lot of speculation, but they are not doing anything behind me.
"I don't think it is good for this room to be speculating about me so that is why I have told the press and the players. I spoke with the club two weeks ago."
Guardiola announced in December that he would be leaving Bayern and targeting a move to England's top flight. The former Barcelona boss heads to City having won back-to-back Bundesliga titles, while his side is firmly on course to defend its crown this season as it holds an eight-point lead at the top of the table after 19 matches.
Pellegrini has won the Premier League and League Cup since succeeding Roberto Mancini at City in June 2013, but a trophyless campaign in 2014-15 and a disappointing record in the Champions League prompted speculation last year that City chiefs were exploring the prospect of a replacement.
Guardiola took charge of Bayern after Jupp Heynckes won the treble in 2012-13 and Pellegrini could yet deliver an unprecedented quadruple of league, FA Cup, League Cup and Champions League to the Etihad prior to his exit in June.