The Germany international’s contract expires in June 2020 and talks have begun over a renewal.
However, the 28-year-old revealed that he will be weighing up all his options before putting pen to paper as it could be the last long-term deal of his playing career.
“It’s become the norm that a player who has another year on his contract period has a decision between separation or extension," he said to Bild.
“I’m a little old-fashioned. It’s possible that I will go to the last year of my contract and then extend.
“Maybe the next one will be my last big contract, so such a decision must be well considered.
“We have already had one or two talks. I do not feel there is pressure on the subject.
“In sporting terms, I’m very satisfied with City - there are less attractive jobs in Europe!
“In this regard, there is nothing to prevent an extension. But nothing is decided yet.”
Gundogan joined City from Borussia Dortmund in the summer of 2016 and has frequently struggled with injury problems during his spell at the Etihad, but he has made an important contribution this season with five goals in 21 Premier League games.
“It's hard to judge if I'm the best Gundogan ever,” he said.
“I also had very good periods at Dortmund.
"In the meantime, however, I also realise that I have to pay close attention to my body. I need to sleep well - at least seven hours – and eat well.”
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