Pep Guardiola to battle Chelsea, Barcelona and Real Madrid for £80m Juventus star Paul Pogba and £50m Everton defender John Stones after Manchester City move

Pep Guardiola will replace Manuel Pellegrini as Manchester City manager

The Spaniard is ready to launch an £80m bid for Paul Pogba this summer

Chelsea, Real Madrid and Barcelona are keen on the Juventus midfielder

Guardiola also wants Everton defender John Stones, who is rated at £50m

Bayern Munich boss is expected to bring his coaching team to the Etihad 

Pep Guardiola has been confirmed as Manchester City's next manager — and he will be given a war chest to compete for £80million powerhouse Paul Pogba and £50m Everton defender John Stones.

Guardiola has agreed a three-year deal worth a record £300,000 a week, £40,000 more than Wayne Rooney, the top-earning Premier League player.

The Spaniard will be backed by City's oil-rich fortune and while Lionel Messi seems to be out of their range, the club will seek to reverse the trend of major stars moving to Spain.

Juventus midfielder Paul Pogba, pictured in action against Chievo, is an £80m target for Manchester City

Pep Guardiola will also try and lure £50m-rated Everton defender John Stones (right) to the Etihad Stadium

Pogba scores his fifth Serie A goal of the season during Juventus' 4-0 win at Chievo on Sunday afternoon 

Incoming City boss Guardiola will target Pogba and Stones in a £130m spending spree this summer

Guardiola, who has managed Barcelona and Bayern Munich, has lost only 19 of his 239 league games as a manager and City believe the 45-year-old can attract marquee names. 

Chelsea, Barcelona and Real Madrid will compete for former Manchester United midfielder Pogba, 22, who will leave Juventus at the end of the season and Stones, 21. City hope they can lure the pair with the chance to play for their new coach.

Current manager Manuel Pellegrini confirmed he would be leaving at the end of the season following his media conference before the match against Sunderland on Tuesday night. 

Pellegrini said: 'I have talked with the club and I will finish my contract on the original date. The club are not doing anything behind me, I knew this one month ago. But I don't think it's good to have rumour or speculation, which I why I have told the players and the press.' 

Stones, pictured in action against Manchester City, was the subject of multiple bids from Chelsea last year

Manuel Pellegrini confirmed he would be leaving Manchester City during a press conference on Monday

Pogba, who left Manchester United on a free transfer, celebrates after finding the back of the net yet again

Guardiola will join Manchester City on a three-year contract worth £300,000-a-week this summer

Guardiola is expected to bring in his coaching team from Barcelona and Bayern, including Manuel Estiarte, Domenec Torrent, Lorenzo Buenaventura and Carles Planchart.

Thierry Henry, who played for Guardiola at Barcelona, told Sky Sports: 'If you're a City fan right now, you can dream about having some great players. 

'Not only because it's a great club and you have the resources, but Pep Guardiola will be the guy to attract any player in the world. Maybe not Messi, but a lot of players who want to be coached by him.

'There is one thing you can be sure of — he wants to dominate. People associate his teams with the number of goals they score but his teams also don't concede a lot. He always wants to be on the front foot, having the ball, possession, and he wants to dominate. So well done, Manchester City.' 

Guardiola features in our mocked-up 'Welcome to Manchester' poster after agreeing to become City boss

Former Barcelona striker Thierry Henry expects Guardiola to use his pulling power in the transfer market

A move for Barcelona star Lionel Messi (left) would appear to be out of Manchester City's range at present