Pep Guardiola could become the highest paid manager in world football, with Manchester City reportedly ready to extend his deal beyond 2019.

The Catalan signed a three-year deal when he joined City at the beginning of last season and while neither his representatives nor the club have formally opened negotiations over extending the current contract, Guardiola is understood to be eager to remain at the Etihad.

The 46-year-old earns around £15m per season but, according to The Mirror, the runwaway Premier League leaders are prepared to offer him an improved deal, which could be worth as much as £20m a year.

City believe the Catalan could be convinced to remain on the blue half of Manchester for the long haul, with a view to establishing a dynasty to rival the one Sir Alex Ferguson forged at Manchester United.

The new contract is understood to be a four-year deal and there is a feeling that Guardiola is extremely happy with things at the Etihad, given the level of scrutiny is a lot less intense than the one he found at his two previous clubs.

Should Guardiola stay at the Etihad beyond 2019, it would raise the prospect of City becoming the club he has spent the longest at, given he quit Barcelona and Bayern Munich after four and three years in charge respectively.

Guardiola's first campaign in the Premier League was also his first season as a manager in which he failed to win a single trophy, but City have looked formidable so far this term and few would bet against them adding a third Premier League crown to their cabinet.

City's 4-1 thumping of Tottenham Hotspur on Saturday (16 December) was their 16th consecutive win in the Premier League and saw them briefly open up a 14-gap at the top of the table, before United clawed it back to 11 points after winning 2-1 at West Bromwich Albion.

The result was the sixth time City have scored four or more goals in the Premier League this season and left them with a goal difference of +44 after just 18 games.