Pep Guardiola has claimed six Premier League clubs, including Liverpool, have outspent Manchester City in net terms over the past five years, despite City spending £430 million ($589.2 million) in recent windows
Paul Wheelock Head of sport and Simon Bajkowski Chief Manchester City Writer 16:32, 03 Feb 2026

Pep Guardiola, manager of Manchester City, spent big in the January transfer window(Image: Getty Images)
Pep Guardiola has jokingly voiced his frustration with Manchester City's board for not spending enough in the transfer market – taking a swipe at the club's reputation for lavish outlays.
City secured one player who had been close to joining Liverpool during the summer, Marc Guehi, alongside another previously linked with the Reds, Antoine Semenyo, taking the club's total spending over the past year beyond £430 million ($589.2 million).
Nevertheless, City has also generated hundreds of millions of dollars through player departures - selling the likes of James McAtee and Oscar Bobb this season - and over the last five years, six clubs have exceeded City's net expenditure.
READ MORE: Trent Alexander-Arnold speculation intensifies as ex-Liverpool man made 'biggest regret' claimREAD MORE: Liverpool issues statement as player joins Arne Slot's squad on deadline dayGuardiola, who has repeatedly pushed back against suggestions the club's achievements are purely down to financial muscle, took the opportunity to redirect expectations and pressure toward the six sides that have invested more heavily: Manchester United, Arsenal, Chelsea, Tottenham, Newcastle and Liverpool.
The Reds face City at Anfield on Sunday.
The City manager, according to the Manchester Evening News, remarked: "I'm a little bit sad and upset because in net spend the last five years we are seventh in the Premier League.

Antoine Semenyo was among Guardiola's signings(Image: Getty Images)
"I want to be the first, I don't understand why the club don't spend more money. I am a little bit grumpy with them.
"But like we won in the past because we spent a lot, now six teams have to win the Premier Leagues, Champions Leagues and FA Cups because they spend more in the last five years. These are facts. It's not an opinion.
"You can say an opinion, like you say you play good or bad against Spurs - we can agree or disagree. But they are facts. 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. That's a nice quote, eh?"
City holds a comfortable 2-0 advantage over Newcastle ahead of the Carabao Cup semifinal second leg, with hopes of reaching Wembley once more if Guardiola's players can achieve what has proven difficult this season - maintaining their lead.
Guardiola continued: "This is the point of today and tomorrow. We have a chance to make our fifth final in 10 years in the Carabao Cup.
"Of course, a good result, I prefer to start 2-0 up, but I know how many times we play against Newcastle and the pride they have as a Champions League team
"We have to be prepared and see how the players recover from a tough game at Spurs and play our game with our people and our fans and try to reach Wembley in March."

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