One of the surprising stories of the January transfer window saw Cancelo join the German champions on a deal that runs until the end of this season, with Bayern Munich holding the option to make the move permanent for €70m.
The 28-year-old had been an important element of Guardiola's side for the last few seasons but even after losing his starting spot recently at the Etihad Stadium, few would have imagined Cancelo would be moved on.
Cancelo's departure has widely been attributed to a bust-up with Guardiola but the former Inter Milan and Juventus defender has categorically denied those allegations.
Speaking to Movistar after Bayern beat Paris Saint-Germain 1-0 in the first leg of their Champions League last-16 tie, Cancelo said: "People who say that I fought with Guardiola [it] is a lie.
"I didn't feel important in the team in the last games. I spoke with the coach and he also agreed. And together with the club we decided that I had to leave, that it was the best for me."
"I like the new opportunities, it's not against City," he added.
"I think that at City he has taken the step to the level he wanted to reach, that's where I became the player I am today.
"I am grateful to both Pep and the club because they gave me everything. My daughter was born in Manchester and it's a club I'll never forget.
"And who knows, in football you never know and at the end of the year I can return."
