The Nigerian forward has extended his stay at the Etihad after flourishing for the first team last season.
There was a time, not long ago, when Manchester City would add firepower to their attack by spending millions on attacking players.
First it was Robinho, then Emmanuel Adebayor and Carlos Tevez followed. The trio had relatively successful careers at City, if judging by their goalscoring record.
Indeed Sergio Aguero may be the club's best signing of all time. But there was also Edin Dzeko and Alvaro Negredo, both with impressive goals-to-games ratios, but often inciting the frustration of many City fans.
And not to be forgotten, Stevan Jovetic and Wilfried Bony both failed after coming in for for large sums, the latter set to be ditched by Pep Guardiola after a miserable 18 months at the Etihad.
Since the 2009 takeover, Manchester City's owners have spent almost £1 billion on players as they have bankrolled their way up the European football ladder.
But one of their best signings, it could be argued, is that of 19-year-old Nigerian forward Kelechi Iheanacho.
Joining the academy in January 2014, the youngster had to wait until the beginning of the 2015-16 season before making his debut.
A week after making his bow against Watford, he came off the bench to grab a last-minute winner in the Premier League against Crystal Palace.
And despite Manuel Pellegrini often preferring Bony, Iheanacho finished his debut season at the Etihad as their third top scorer, with 14 goals in 35 appearances.
His glowing potential, along with his vibrant attitude and work ethic, have been rewarded by Manchester City as they have offered him a bumper two-year extension to his current deal.
Speaking to Manchester City's official website, Iheanacho shared his delight at the news: "I can't express how I'm feeling! I'm very happy to sign my new deal for this club, I'm excited.
"I just need to keep working hard and express my feelings on the pitch, and work really well and do great things for the team.
"I'm happy and I appreciate everything the club has done for me so far at this point so I really need to help and work for them as well."
With young forwards Leroy Sane and Gabriel Jesus joining Iheanacho at City, Guardiola now has the chance to build a attacking line-up to last a decade.
The Spanish coach added: "I like his personality, his attitude, his ability – we hope to help him reach the highest level and to realise his full potential"
It is richly deserved for a player who is still two months away from his 20th birthday.
And if he takes his form into the next five years, there is no reason why Iheanacho can't write his name in the City history books just as Aguero has done in his half-decade at the club.