Pep Guardiola has defended Manchester City's spending by pointing to net spend figures over the last five years, claiming the club ranks only seventh in the Premier League. Despite a January window that saw City outlay £62.5m on Antoine Semenyo and £20m on Marc Guehi, taking total expenditure since the start of 2025 to around £430m, Guardiola insisted the long-term picture tells a different story.
“I'm a little bit sad and upset because in net spend the last five years we are seventh in the Premier League,” Guardiola said. “I want to be the first, I don't understand why the club don't spend more money.” The six clubs ahead of City are Manchester United, Arsenal, Chelsea, Tottenham, Newcastle and Liverpool. Guardiola challenged them: “Good luck to the six teams who are in front of us for net spend for the last five years. Let's go. I'm waiting.”
However, critics note that over the last decade, City's net spend is the third highest, and in the last year only Liverpool have outspent them. City's net spend in the past 12 months is around £350m, second only to Liverpool's £450m. The club's wage bill is also often the highest in the league, though Liverpool's could surpass it this season.
City's relatively low five-year net spend is partly due to effective sales, including academy products like Cole Palmer and players such as Julian Alvarez and Ferran Torres. They have also profited from selling players who rarely featured for the first team, like Pedro Porro and Yan Couto. Guardiola acknowledged City will never shed their reputation as big spenders: “Never, never, never. Always, we will live for that.”
