The Argentine international will get a wage raise at the Etihad Stadium, according to Manchester City.
By signing a new, long-term deal with Manchester City, Julian Alvarez will see his salary more than quadruple, to over £100,000 per week.
According to reports, Manchester City has attempted to extend the World Cup winner's contract by another year, keeping him under contract until 2028.
In January of last year, Manchester City paid River Plate £14 million for Alvarez before loaning him back for the rest of the campaign.
In an effort to stave off any possible suitors in the summer, Guardiola has tried to give him a sizable raise.
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