Pep's probably staying in Manchester City until 2027. He's not only getting one year contract extension, but there is also an option to add another year. He's probably getting two year extension from Manchester City.
I think he should get more because there are no better teams that he can coach and they'll be willing to spend like the way Manchester city are allowing him to spend. He's also in the premier league and this is the best league in the world. If he goes elsewhere, he won't be getting attention as he's receiving as it's due to he's coaching in the premier league and dominating so many individuals consider him one of the best managers for not only coach in the premier league but worldwide. Pep Guardiola still has alot of unfinished business at Manchester city too as he's yet to win them as much trophies as he could with the squad and financial support that he has.