Earlier this week, Diario AS cited reports from England which claim the Premier League champions have recognised the cycle is coming to an end and they are planning for the future.
The former Barcelona boss has helped the Manchester club to back-to-back Premier League titles, amassing a remarkable 198 points across those two seasons.
The club won all four domestic trophies on offer last season – including the FA Cup and EFL Cup – but they are 14 points off league leaders Liverpool so far this campaign.
There have been doubts that Guardiola, who is in his fourth season at the Etihad, may decide to leave the club next year if results continue to stagnate.
The 48-year-old, who previously achieved success at Bayern Munich, will see his current contract expire in the summer of 2021 and has recently indicated he will honour that agreement, should the club wish.