Manuel Pellegrini says he is under no pressure with reports linking Guardiola to City.
Guardiola has entered the final year of his contract and reports have it Ancelotti is poised to take over from him.
Pellegrini, however, states he is unperturbed with Guardiola coming in ad a possible replacement.
“I think Pep is one of the best coaches in the world so if he doesn’t continue at Bayern, maybe a lot of teams can try to have him manage their team,” the Chilean told reporters.
“In my case, I don’t have any pressure about that. Maybe there are a lot of rumours – not only this season but going back to the other seasons – but the only pressure I feel is the pressure I put on myself to win.
“When you have experience and manage so many big clubs you know with every result that is not the result the club wants, the media will start with different rumours about different things, but if you are worried about that it’s impossible to work in a big team.”
City are third in the Premier League table and remain favourites to win the title and Pellegrini acknowledged that returning the trophy to the Etihad Stadium would make him more difficult to dismiss.
“If I finish this season winning the Premier League, and in three years winning two Premier Leagues with one runner-up, that is very important,” the 62-year-old added.
“If something is not considered important I can’t be arguing with different media. I’m very happy about my career and my work.
“I would not be happy if I don’t win silverware this season but all the other things I cannot be thinking about. Everyone can have their opinions.
“You’re going to have good performances, bad performances, you’ll be criticised, receive praise – different things – but you can’t be too concerned about those things.
“I cannot talk about what other people want to manage the club. Every owner has the right to see what is the best future for their club.
“It’s not my problem because I don’t think for them. My thinking is to try to win and continue in a job where I am happy. After that it’s not my decision.”