The Norway forward has signed a mega 9.5 year deal to keep him at City for most of his career.
The striker is now tied to the Etihad Stadium club until the summer of 2034.
“It’s exceptional news for all of us at the club,” the City boss said in his news conference on Friday.
“When one player decides to sign this type of contract it’s because he wants to show how he wants to be here.
“It’s the trust of the club to Erling – the club knows perfectly how professional he is. His commitment every day and every game to show his talent.
“And from him because in 10 years we never know what’s going to happen, it’s a long time. Always in a short career what will happen will happen. He proved what he wanted. And he has trust in the club.
“I think what happened is that he loves the club, the people he’s around, the Premier League, he loves to be here and I think he visualised that there is no better place he could be right now or the next 10 years I would say.”