"I'm very flattered, but I'm in a unique and fantastic position at Manchester City," he has said.
"I consider Norwich to be my club. I spent the majority of my career there - nine years - and had fantastic and happy times there.
"My three children were all born in Norwich and the club and the area has a special place in my heart.
"But it would be very hard to leave Manchester City at the moment with what's happening here."
"We all firmly believe this club will be challenging the greatest sides in Europe in two to three years."