Manchester City assistant manager Mikel Arteta has admitted that he is "happy" to have missed out on the Arsenal job this summer.

Arteta - a former Arsenal captain during his playing days - was the favourite to succeed the long-serving Arsene Wenger for much of the summer until the board instead decided to go for Unai Emery.

The Spaniard admitted that he wants to become a manager at some point in the future, but insists that he is enjoying his current role with the Premier League champions.

"In football it's so hard to predict things. When things happen, you have to make decisions, sometimes you don't have time to make them," Arteta told reporters at a press conference.

"The decision was made and I'm so happy the decision was made. I'm very privileged to be where I am. I feel very fulfilled with the job I'm doing at the moment. If you ask me the question if, one day in the future, I will be a coach, the answer is probably 'yes'.

"But I'm really happy where I am and really enjoying the moment I'm living. We have a fantastic momentum and there's still a lot of room for this club to grow - so I am very pleased with where I am.

"I didn't talk on [the Arsenal speculation] two or three months ago and I didn't make a statement. And I don't think today is the day to talk about it. You all know something happened but the reality is I'm here and I'm very happy."

Man City will take on Lyon in their opening Champions League game of the season on Wednesday, for which manager Pep Guardiola will serve a one-game touchline ban.