Report: Guardiola to earn over £15M per year with City, will get £150M transfer budget

To see a list of completed deals in the January window thus far, visit theScore's Premier League transfer tracker.

Manchester City announced a new managerial move on Monday, with Bayern Munich boss Pep Guardiola taking over from Manuel Pellegrini for the 2016-17 season onward.

Now, the Guardian reports that Guardiola will be given a minimum £150-million budget for summer signings this year to bring in players of his choosing.

Guardiola, who signed a three-year deal with the Premier League giant, has also reportedly been given a salary raise and will earn €20 million (£15.2 million) per year, an increase of about €3 million from his salary at Bayern.

Guardiola and his close friend from Barcelona, Txiki Begiristain, will supposedly work together to come up with a plan for the summer window before signing any players.