I don't Manchester City will be willing to find another coach despite Pep Guardiola recent struggles in both the Premier league and the Champions League. Pep Guardiola still remains City’s greatest manager and as such he is highly respected at the club and that's why they decided to extend his contract. Despite their recent struggles, the club hierarchy will be confident that Guardiola will be able to get Manchester City back to their best.
Pep Guardiola has proven to bring history to the club and their slump this season is not a reason for the club management to fire Pep Guardiola. He is a great coach and there are difficult times for him in coaching the team and this is the time he is going through because City once led the standings but now their position is in 7th place in the Premier League.
Also in the Champions League, Manchester City's performance is not very stable, they are even easily defeated. For this situation, of course, the club management must encourage Pep guardiola to find a way to make their performance better.
Pep Guardiola has presented many trophies for City and if at this time they choose to fire Pep then that is a pretty silly decision.