Mikel Arteta and Pep Guardiola
Mikel Arteta (L) has been under Pep Guardiola's wing for the last two years since retiring from Arsenal. Pictured: Mikel Arteta and Josep Guardiola, manager of Manchester City, looks on during the Premier League match between Manchester City and Brighton and Hove Albion at Etihad Stadium in Manchester, England, May 9, 2018. Gareth Copley/Getty Images

Manchester City Manager Pep Guardiola has said he will not get in the way of Mikel Arteta should he be offered the Arsenal managerial role.

Arteta was the former captain of Arsenal until he retired from the game at the end of the 2015/2016 season and proceeded to join forces with Guardiola at City the following season as one of his assistant coaches.

Under the tutelage of the two-time Champions League winning coach, Arteta helped the Citizens to a League Cup and a record-breaking Premier League title this year, with Guardiola's men breaking the 100-point barrier with the last kick of their 1-0 season-ending win over Southampton on Sunday.

With Arsene Wenger winning his last-ever Gunners game in a 1-0 win against Huddersfield Town on the same day, speculation continues to build as to who will replace the Frenchman following his 22-year spell with the club.

Arteta is one of the leading favorites for the role and despite Guardiola's preference for him to stay at the Etihad Stadium and "finish" what they started, he would be understanding if he took the job offer.

"If he stays, I will be the happiest guy in the world," Guardiola said after the 1-0 win over Southampton, as quoted on FourFourTwo. "If he decides to move because he has this offer, this option, I will not say 'you don't have to go'. I want the best for my friends, and he's a friend of mine, and I want the best."

"If he decides to go, I will be so sad, but I will understand his decision, because it's his career, his life, his family, and I am not the right guy to say 'you don't have to do that'. But, hopefully, hopefully he can stay and finish what we have started together in the coming years," he added.

Arteta's chances of landing the job further improved as another candidate for the role in Juventus manager Max Allegri appears to have ruled himself out of contention by stating he will remain in Italy unless he's sacked.

"Will I stay at Juve? Yes. I have a contract to honor," Allegri said, as per The Mirror. "If they don't sack me, I'll stay at Juventus next year too."

Meanwhile, Wenger is confident that no matter who succeeds him at the Emirates Stadium, the Arsenal squad is more than good enough to challenge for titles next season.

"When you look at our season there is something in the group that is waiting to come out," Wenger said after his last game. "We were very close this season. We went to a League Cup final, the semi-final of the Europa League where we should have qualified, and at home we had a fantastic season. It is away from home that the team needs to improve and they will."

"I know that we disappointed the away fans this season and many of them spare money to travel up to games and it's part of respect," Wenger added after bowing down to the away fans. "They had disagreements with me and I can accept but we had one thing in common: we loved Arsenal Football Club. I just wanted to share that with them today."