Chelsea & Manchester City paid for lack of history in race for Guardiola, hints Rio Ferdinand

The highly sought-after 42-year-old manager will take over the reins of the German giants at the end of the season now, replacing the retiring Jupp Heynckes at the helm

A short-term approach and lack of history saw Premier League giants Chelsea and Manchester City miss out on the services of Pep Guardiola, according to Manchester United defender Rio Ferdinand.

The former Barcelona coach - who won 16 pieces of silverware during a trophy-laden four-year stint at the Catalan club - announced his long-awaited comeback on Wednesday, with Bayern Munich clinching the much-lauded manager’s signature despite heavy interest from England.

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Guardiola is set to sign a three-year deal until 2016, replacing the retiring Jupp Heynckes in the process, in a move that Ferdinand was both surprised yet supportive of.

Ferdinand posted on Twitter: "The news yesterday of Pep going to Bayern Munich was a shock...until you step back and think why...stability, organised, competitive in CL.

"Money to invest, history+time I'm assuming to put his stamp on the club... he obviously wasn't guaranteed all that at other clubs linked to!"