City boss Guardiola is now in the final year of his contract at the Etihad Stadium.
Guardiola, 49, took charge at City on an initial three-year deal in 2016 but extended that by a further two seasons in 2018.
Speculation over the Catalan’s next move will undoubtedly increase as the end of the contract nears but, as with two years ago, the club do not feel there is a rush to resolve the issue.
Speaking in an interview with the club’s website, Al Mubarak said: “This conversation with Pep is a natural conversation. Pep and I have a very clear understanding about what is right for the club and what is not.
“We have a clear alignment in terms of where we see the future and what we want in terms of success for the club.
“I think, again, it will be a comfortable conversation and it will work out in the best way for Pep, for me and for the club. I’m very comfortable about that.”
Guardiola has won six major trophies, including two Premier League titles, at City and, despite frustration in the Champions League, the club are reportedly keen for him to stay.
Asked if discussions were more of an ongoing conversation rather than fixed talks, Al Mubarak said: “Everything will work out naturally and in the right way. We have the right people involved. We have the right trust in each other and what’s best will happen.”
Playmaker David Silva left City after a decade’s outstanding service this month and another significant figure entering the final year of his contract is record goalscorer Sergio Aguero.
The 32-year-old Argentina striker, who has scored 254 goals for City and won four Premier League titles since signing in 2011, has earned the right to leave when he wishes, Al Mubarak feels.
He said: “To have a player like David essentially commit 10 years of his life to the club, to have a player like Sergio Aguero to do the same – this is what tells me we have it right.
“They are part of the DNA of the club now and the decision of them continuing or stopping, it’s the comfort zone that they have to decide. It was the same way with Vincent (Kompany).
“We will work it out together and it will be very natural, whenever it is, this year or the year after. It will play out in a comfortable way whatever Sergio decides.
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