Italy have held discussions with Pep Guardiola over the possibility of becoming their new national team manager, and the Italian Football Federation would be willing to make financial exceptions to make it work.

During his trophy-laden tenure at Manchester City, Guardiola won 20 major honours, which include six Premier League titles and the club's maiden Champions League crown. 

He took charge of 593 matches across all competitions, winning 423 (D77 L93) and was succeeded by former assistant Enzo Maresca. 

The 55-year-old recently stated he was not "missing anything mentally" about coaching and ruled out an immediate return to the touchline. 

Guardiola has, however, been linked with the Italy and England roles, with reports revealing he had a verbal agreement to take charge of the Three Lions in 2024 after Gareth Southgate's departure, before choosing to extend his stay at City. 

After failing to qualify for a third World Cup in succession, Italy parted ways with Gennaro Gattuso in April, and amid an overhaul, new Italy technical director Paolo Maldini and his adviser Leonardo are seeking a new head coach.

FIGC president Giovanni Malago acknowledged that Guardiola would mean making an exception to the usual financial constraints.

"There are certain financial aspects to be considered, and it's an understatement to say we'd have to grit our teeth for this," Malago stated.

"Some exceptions have been made, for example, exceptions that regard the name making such waves at the moment: Pep Guardiola.

"I don't need to sit here and explain the obvious reasons why he'd be an exception, but that is also no guarantee that this will go through.

"I think it was right and important to open a dialogue and keep it alive."

Guardiola is not the only name being linked to the position, with Andrea Pirlo also reportedly of interest, as well as a possible return for both Roberto Mancini and Antonio Conte. 

Conte has claimed he has not been approached regarding the vacancy despite being out of work following his departure from Napoli at the end of last season. 

"It is certainly not a lack of respect towards other people, because there has already been a discussion with others," Malago added.

"And one can opt for someone who is perhaps of a more recent school of thought, so it's a very subjective matter. "

Malago was subsequently asked whether Guardiola, Pirlo and Mancini were the only remaining contenders, to which he said: "Absolutely not.  

"We are thinking about a certain profile, and these names are definitely within that category."

Silvio Baldini has since been in interim charge and led a young Italian side to back-to-back wins over Luxembourg and Greece in June, with Italy's focus now turning to their Nations League campaign. 

In an extended international break that starts in September, the Azzurri face Turkiye twice, along with games against Belgium and France.