He is confident he has the squad at his disposal to start challenging for trophies immediately.
Pellegrini: "For me the Champions League is very, very important but so is the Premier League.
"I will try to play for the four - FA Cup, Capital One Cup, Champions League and Premier League, to try to win them all.
"We have a strong squad to try to win it all.
We just need four more - we won the Asia Trophy! (he joked)
"No, I think we will try to do our best in all the competitions and when we finish the year we will see what happens with how many trophies we have won."