The Catalan inked a new two-year contract on Thursday.
“I felt I could not leave now, simple as that,” he told City's website.
“Don’t ask me the reason why. Maybe the four defeats were the reason why and I felt I cannot leave. I felt the club still want me or had the fact that we were together and that’s the reason why we sign.
“Firstly it’s because we won a lot otherwise you do not stay 11 years not even here in a place where I feel love.
“Here is a business and you have to win and have a contract but I know if you don’t win maybe I would not continue.
“It’s just the feeling the moment now will feel it’s done, the club know it and that moment did not feel.
“I enjoy being here. I like my job. I like being the manager of this club.
“I said many times from many many years ago, the moment I will not have that feeling, even under contract, I will ring my chairman and CEO and say the best for the Club right now is I have to leave.
“I don’t have that feeling right now and that’s why I extended a little bit longer.”
On the success of City under him, Guardiola also said: “I think the hierarchy is so stable, the club is so, so stable in many departments and everyone knows the quality of the players we have in this decade – nine, ten, eleven years.
“I don’t forget my first season here with the players, I had in that moment so that helped me a lot to understand the club, the team, the Premier League and many, many things and all of them were involved.
“I didn’t have the feeling that the reason why is a specific reason – there are many the reasons why we have a lot of success.”
Guardiola says he looked around and was convinced that he and his staff were still the best men to lead City into the future.
“Every time I sign the contract, it’s for the last two and after I resign the contract I say okay the last two and still we are here,” he said.
“So honestly I think myself, my staff and friends, I think we deserve to be here. I am sorry to say.
“I am not arrogant to say, but it’s the truth. I think we deserve after four defeats in a row to bounce back and try to turn the situation.
“In that moment, in the period, I had the feeling you have to take the right decisions for the future and I want to take it.
“The Treble was a dream come true and the Champions League, especially for this club and of course we make the four in a row which no team has done before. It has been amazing.
“But you have a past, been lessons and mistakes that we have overcome to arrive in the moment where you are more stable and more consistent.
“We have to recover that because right now we don’t have it and that’s the target we have to do.”
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