Why Manchester City spent big money to revolutionise their squad

The night before the transfer window shut, it seemed it would close with Enzo Fernandez still at Stamford Bridge. Chelsea were asking for £135m. It was more than Manchester City were prepared to pay. It took negotiations on 1 September to bring the price down to £125m, still a joint British transfer record and a deal that took the amount committed to buying players either to or from City this summer to around three quarters of a billion.

Had Chelsea not reduced their demands – which may be seen as an indication of their willingness to get rid of Fernandez, especially when their attempt to replace him with Monaco’s Lamine Camara broke down – City might not have signed a third midfielder.

Instead, they completed a £326m revamp in the centre of the pitch. There were several pertinent elements. The £116m buy Elliot Anderson was always their first choice to replace captain Bernardo Silva, who was leaving when his contract expired and who then joined Real Madrid. City took added satisfaction from knowing some of their rivals wanted Anderson, including Manchester United.

The £85m arrival Ayyoub Bouaddi is seen as a player with the attributes to be world class and who, despite being only 18, is expected to play a lot of games this season. The Morocco international, who is studying for a maths degree, is regarded as belonging to the tradition of intelligent midfielders at City. Significantly, perhaps, City feel he is the only specialist No 6 in their squad.

They have noted they have made a profit in that position; equally, there is a £191m net spend on No 8s, with Fernandez and Anderson coming in as the most expensive players in their history, while Tijjani Reijnders has left. The Argentinian is regarded as world class now, partly due to his ability to contribute goals and assists. But whereas the club themselves had prioritised Anderson, new manager Enzo Maresca had pushed for Fernandez, with whom he worked at Chelsea. Even with him, City expect Nico O’Reilly to feature more in midfield this season.

In their own analysis of the summer window, City are including last winter’s, in part because they brought forward moves for Marc Guehi and Antoine Semenyo, who both had an early impact. Each has an importance in their thinking.

While City have had an overhaul on the wings, with Oscar Bobb going in January and then Savinho and Omar Marmoush in recent weeks while Allan Elias and Iliman Ndiaye have come in, Semenyo has a secondary significance. Marmoush doubled up as Erling Haaland’s deputy and Semenyo is now seen as the player likeliest to operate as a centre-forward when the Norwegian is not on the pitch. It helps they recruited Ndiaye, who impressed some at City with his displays against them for Everton.

Meanwhile, Guehi is regarded as the successor to John Stones, another to depart on a free transfer in the summer, while Vitor Reis, a January 2025 buy, is primed to take over Nathan Ake’s role in the squad. The 20-year-old Brazilian, who spent last season on loan at Girona, is expected to feature reasonably regularly now.

The sale of another Brazilian, Savinho, raised eyebrows because Tottenham paid an initial £75m, with a guarantee of a further £5m in add-ons and the potential of £5m above that. City had been keen to recoup the fees they paid for Reijnders and Gonzalez, which they have and will do for Marmoush when his loan becomes a permanent move. They made a huge profit on Savinho: that the winger had signed a new five-year contract in October, coupled with Spurs’ heavy spending on other players, meant City felt they could name their price for him. Tottenham paid it.

There was a sense of satisfaction at the Etihad Stadium when the transfer window closed. They have been in a period of transition, from Pep Guardiola to Maresca as manager and from Txiki Begiristain to Hugo Viana as director of football, and there may be a different approach: for much of the Guardiola-Begiristain era, City were not actually the ones paying the record fees. There may be a shift in approach but there is a belief their strategy is working.

It has come at a considerable cost – with about £435m spent – but has been aided by two-thirds of it being recouped. Their net spend is £133m.

But City’s squad is now notably younger, with the thirty-somethings Rodri, Silva, Stones and Ake all going, along with Reijnders, at 28, and Marmoush, at 27.

City feel that next summer’s outlay could be smaller. Certainly, after the number of arrivals in recent windows, there could be fewer if the current influx succeed. They believe their squad is stronger now than it was when the 2025 summer window closed. Given the amount spent, maybe it ought to be. After the £750m revolution, City have taken on a new look.