Manchester City have dismissed speculation that Pep Guardiola is set to take charge at the Etihad for the 2015-16 season, according to ESPN FC sources.

Qatari-owned global sports channel beIN Sports reported on Saturday that the Bayern Munich boss had verbally agreed a deal to replace current manager Manuel Pellegrini at the end of the season and its Arabic account tweeted: "Urgent - sources beIN SPORTS: Manchester City reached a tentative agreement with Bayern Munich coach Guardiola to train the team for next season."

However, sources told ESPN FC that City have not made a move for the former Barcelona coach.

City chiefs Ferran Soriano and Txiki Begiristain worked with Guardiola at the Camp Nou, but the Catalan and his club have reiterated countless times this season that he will see out his current deal in Munich, which lasts until 2016.

Both managers have come under fire this season with Guardiola under pressure despite winning the Bundesliga, after his side were hammered 3-0 by Barcelona in the Champions League and fell to Dortmund in the German Cup semifinals.

Pellegrini, meanwhile, has overseen a poor defence of his Premier League title as Chelsea stormed to the trophy, while he has failed to make progress in Europe -- also losing to Barcelona in the round of 16.