Bayern Munich won the Audi Cup after coming from behind to beat a spirited Manchester City side who took the lead through the excellent Negredo on the hour mark.
Goals from Muller and Mandzukic ensured Guardiola's first trophy at the Allianz Arena in a competitive and entertaining encounter.
Bayern dominated possession in the opening forty five and created the better chances but Pantmillon was equal to Schweinsteiger's best efforts.
With no goals Bayern would have felt frustrated going in at the break but there was further frustration to come as City began brightly in the second half.
Samir Nasri was unfortunate to have been ruled offside and the Frenchman took slotted home only to see his effort chalked off.
City then took the lead as Pellegrini's side looked to counter and new signing Negredo raced clear holding off the challenge showing great strength before firing across Neuer to stun Guardiola's side.
The European Champions responded superbly though to draw level through Thomas Muller's penalty kick after Zabaleta handled in the area before Madzukic headed the winner just five minutes later.
Thomas Muller floated a delightful cross to the back post and Mandzukic headed beyond Pantmillon to complete the turnaround.
There was still a chance for City to grab a late equaliser but Neuer saved superbly to push Dzeko's effort around the post to ensure another trophy for the Bavarians.