Manchester City chairman Khaldoon al-Mubarak says there's no rush to enter new contract talks with manager Pep Guardiola.

City, for all their domestic success, are yet to win the Champions League and Mubarak has underlined the club's desire to compete for major honours, rather than have a stated aim to win any individual competition.

"We approach every season to try to win every competition," he said.

"That has been the case for the last 10 years. You cannot argue in the last six years under Pep, we show up every game with the full intention to try to win."

Guardiola's contract has another season left to run and the 51-year-old has not given any guarantees about what happens beyond that point.

And, though he was asked about the issue in his interview, Mubarak did not provide a direct answer.

"Pep has never stayed as long at any club than he has at Manchester City," he said.

"It is a partnership that has done wonders. Next year will be another exciting chapter. The conversation will be at the right time and pace and within a framework that works for Pep."