The 29-year-old Portuguese defender joined City from Juventus in the summer of 2019 following successful spells in Spain and his native Portugal.
He has since gone on to make 154 appearances for the Club across five seasons at the Etihad Stadium, claiming seven major honours during that time.
The defender’s creativity and technical quality also saw him selected as part of the PFA Premier League Team of the Year in both 2021 and 2022 as well as also being named in the 2022 FIFA FIFPro World XI.
Cancelo spent the second half of the 2022/23 campaign on loan at Bayern Munich where he helped the Bavarians claim an 11th successive Bundesliga league title.
To date, he has also won 44 caps for Portugal, representing his country at the 2022 World Cup finals as well as lifting the inaugural 2019 UEFA Nations League title.
Everyone at Manchester City wishes Joao the very best of luck for the rest of the season.