Chelsea, Atletico, Valencia or even Man Utd? Manuel Pellegrini's options assessed

We look at Manuel Pellegrini’s next club options after it was confirmed that Pep Guardiola will replace him as Manchester City manager at the end of the season.

The Chilean boss looks set to leave with an enhanced reputation from his Etihad Stadium spell, having won the Premier League and the Capital One Cup during his opening campaign, while City are still in the hunt on four fronts in his third and final season in charge.

Here's a look at his most likely options according to Sky Bet's odds on his next club…

Chelsea (2/1 with Sky Bet)

With Guus Hiddink considered unlikely to remain at Stamford Bridge beyond his short-term contract, the Blues are already being linked with a series of candidates to take over in the summer. Such was the assertion that the City boss would be leaving the Etihad at the end of the season, Pellegrini was already being backed in Sky Bet's next Chelsea manager market at 14/1, odds which have plummeted to 2/1 since the Monday's announcement. The Chilean now heads the betting, with Italy head coach Antonio Conte and former Chile manager Jorge Sampaoli considered the other main candidates at 5/2 apiece.

Valencia (3/1 with Sky Bet)

Much like Chelsea, Los Che look set to be in the search of a new manager in the summer, having also made a short-term appointment in December. That man is, of course, Gary Neville, who is enduring a tough start to management life, failing to rack up a league win to date. The Mestalla faithful would surely welcome Pellegrini's experience right now, having booed their side off after Sunday's 1-0 home defeat to Sporting Gijon.

Atletico Madrid (6/1 with Sky Bet)

In stark contrast to the aforementioned, there is no doubt who Atletico want to be in charge of their club next season - legendary player and now manager Diego Simeone. The Argentinian signed a contract extension until 2020 last year having enjoyed incredible success at the Vicente Calderon, winning the Copa del Rey, the Europa League and La Liga, while coming just moments away from landing them to Champions League glory as well. That record has led to a host of links with Europe's top sides, explaining Atletico's place near the head of Sky Bet's market. The 45-year-old is 10/1 to be Chelsea's next manager and would surely be an even shorter price for the Manchester United post should Louis van Gaal's reign be cut short. The experienced Pellegrini would be an ideal candidate to steady the ship should Simeone depart, a scenario Atletico will be hoping they do not have to face.

PSG (8/1 with Sky Bet)

The Parisian giants are on a relentless march to yet another Ligue 1 title under Laurent Blanc, sitting 24 points clear of second-placed Monaco after an unbeaten 23 games. However, the question is whether their parent company, Qatar Investment Authority, will start to demand more than domestic success for their funding. A final-16 Champions League tie with Chelsea should serve as an interesting barometer of their progress under Blanc, who is yet to extend his summer-expiring contract. However, chairman Nasser Al-Khelaifi already expressed his confidence in a new deal being struck just last month.

Manchester United (6/1 with Sky Bet)

There is certainly reason to suggest Louis van Gaal's days may be numbered at less than until his summer 2017 retirement date, but would United really turn to a man deemed no longer good enough to manage their neighbours? It seems an unlikely one, especially with Jose Mourinho so heavily linked with the post if Van Gaal does depart prematurely. However, under Pellegrini City have been playing the sort of football that Old Trafford is so sorely missing, with City top scoring in the Premier League in each of their campaigns under the Chilean.

Other options

A return to either of his former clubs Villarreal and Malaga is also considered at 10/1 apiece, while the same odds apply to the Chile national job, despite Juan Antonio Pizzi being appointed last month. Other national jobs will inevitably become open to Pellegrini after the summer's European Championships, with the England post a 20/1 chance, while Spain is thought to be a more likely proposition at 12/1.