Having finished trophyless in his first season in Manchester, Guardiola will be hoping to mark his second season in England with silverware.
With success in both the Premier League and Champions League paramount for his side, City will need a strong squad next term with many of their big rivals set to spend big in the window too.
Here, we look at three acquisitions that would be most welcome to Pep’s first-team make-up.
Will any of these deals happen?
VALUE: £40 MILLION
Benjamin Mendy has emerged as one of Manchester City’s main signings this summer as Guardiola steps up his plans to sign two new full-backs, with Tottenham Hotspur’s Kyle Walker expected to be the other target.
The highly-rated Frenchman, who can play on either the left or right side of defence, was a star in Monaco’s run to the Champions League semi-final and Ligue 1 title conquest.
The 23-year-old is contracted to the French Riviera side until 2021 but has reportedly made it clear he wants to play in England.
With Bacary Sagna, Gael Glichy and Pablo Zabaleta released by the Blues this summer, the prospect of Mendy lining out at the Etihad Stadium is certainly not dead yet.
VALUE: £60 MILLION
The Juventus star has established himself as one of Europe’s finest defenders and has attracted serious interest from both City and Chelsea.
With uncertainty over the future of Nicolas Otamendi, Guardiola needs a major overhaul in central defence – an area which caused City problems last term.
Indeed, with John Stones still very much learning on the job at the heart of the backline and add to that Vincent Kompany’s constant injury problems, Bonucci’s leadership qualities would make him a fearsome addition.
The Italian international has made it clear in the past that he is happy at the Old Lady – where he is under contract until 2021 – but a move to the Premier League and the prospect of working under Guardiola would be difficult to turn down.
Although almost 30, Bonucci has plenty of years ahead of him at the top level.
VALUE: £50 MILLION
The prolific Chilean striker was the key man for Arsenal this season but, having stalled on a new contract, he looks set to leave as there is no Champions League football at the Emirates in 2017/18.
The Gunners have reportedly offered a new contract in excess of £300,000 per week, but the 28-year-old looks set for a move away from north London with Bayern Munich, PSG and City among the leading candidates to secure his signature.
Sanchez scored 24 goals and provided 10 assists in 36 Premier League games last term and was the standout performer in their FA Cup triumph.
Imagine the prospect of Sanchez lining up alongside Sergio Aguero in attack next season.
Demarai Gray believes England’s young guns must be given more of a chance with their club sides as he revealed his frustration at Leicester.
The 20-year-old scored the opener in Thursday’s 3-0 win over Poland as the England Under-21s reached the semi-finals of Euro 2017.
It is the first time the Young Lions, who topped Group A in Poland, have reached the knockout stages of the competition since 2009.
They have followed England Under-20s’ World Cup success earlier this month while the Under-17s reached the final of their European Championships in May.
And Gray, who has made just 10 Premier League starts for the Foxes since joining from Birmingham 18 months ago, feels England’s rising stars deserve more faith.
“Managers have to trust you and give you a chance. If they do we will have more English talent coming on show,” said Gray, part of the Leicester squad who won a shock Premier League title in 2016.
“The way football is today, the way the game is changing all the time I think we can progress and see young players come through.
“It is all about opportunities. Playing at first team level is how you progress the best. You learn about the real game. If opportunities are given you’ll see more of the youngsters coming through.
“The young England generation has some very very good players. Hopefully there is opportunities given to all the lads coming up from Under-17 onwards. The future is bright for England.”
Gray was Leicester’s most used substitute last season – coming off the bench 21 times – and has been linked with a move away from the King Power Stadium.
And he admitted he has found his bit-part role tough, although he could play a bigger part if Riyad Mahrez leaves the Foxes this summer.
“Yes,” he said when asked if he had anger inside of him. “I used this tournament last season to motivate me to show what I am capable of. As soon as I get a chance I want to have my best game.
“I am hungry and want to make my mark. I want to express myself as much as I can. I don’t feel like I have been able to do that as much as I want.
“Shakey ( Craig Shakespeare, Leicester manager) has always been there for me at Leicester. He always spoke to me one on one. With him getting the job now I am happy with that and hopefully I will get more of an opportunity.”
Gray set up Norwich’s Jacob Murphy for England’s second goal on Thursday before Lewis Baker wrapped up the win with a penalty after Jan Bednarek was sent off.
England will play their semi-final on Tuesday but must wait until the group stage ends on Saturday to discover their opponent.
Murphy has impressed for England this summer after scoring 10 goals in 41 appearances for Norwich last season and echoed Gray’s thoughts.
“We’re a massive sporting country, our football stands out for itself, so we’ve got to keep putting our names out there, and doing well for English squads,” said the 22-year-old.
“Norwich give young players a chance, and that’s what we need more of. That’s the only chance we’re going to get to develop young English talent if we’re playing them regularly.”
Former Liverpool, Real Madrid and West Ham defender Alvaro Arbeloa is retiring from football.
The 34-year-old Spaniard made three Premier League appearances for the Hammers last season before being released and in an interview with Marca he revealed he was hanging up his boots.
“It’s time to say goodbye,” he said. “Physically I was okay to keep playing.”
The full-back spent three years with Liverpool before returning to the club for whom he made his senior debut, Real Madrid, in 2009.
He won one LaLiga title and the Champions League twice, making over 200 appearances before signing for West Ham last August.
Asked what he believes the future has in store for him now he has called time on his playing career, he suggested he would be open to a return to the Bernabeu.
“Madrid is the club of my life, I will never call to ask for a job, but I am always available to offer myself,” he said.