What “Grumpy” Pep Guardiola Did Not Mention About Man City’s Net Spend

Manchester City manager Pep Guardiola wanted to talk about net transfer spend at his latest press conference.

Speaking to the media less than 24 hours after the January transfer window had closed, Guardiola was keen to point out that six Premier League teams had spent more than Man City over the past five years, in terms of the cost of their new signings minus the gains from player sales.

What did Pep Guardiola say about net spend?

Guardiola was asked by a reporter how much credit should go to director of football Hugo Viana for his role in Man City’s January signings.

City splashed out more than £80 million in January to bring in Antoine Semenyo from Bournemouth and Marc Guehi from Crystal Palace.

“Really good,” replied Guardiola, before launching into an astonishing rant.

“I am a little bit sad and upset because of the net spend the last five years. We are seventh in the Premier League. I want to be the first. I don’t understand how the club don’t spend more money, so I am a little bit grumpy with them.

“But, with the position like we were in the past, because we spent a lot, now six teams have to win the Champions League and Premier Leagues and FA Cups because they have spent more in the last five years.

“This is a fact. You can say opinions like ‘you played good’ or ‘you played bad’ — we can agree or disagree, but those are facts.

“Good luck to the six teams that are in front of us in net spend over the last five years. Good luck, we are waiting.”

Guardiola’s words, whether they were playful or serious, came two days after his team blew a 2–0 lead to draw 2–2 at Tottenham Hotspur.

The result highlighted Man City’s second-half problem and left them six points behind Arsenal in a Premier League title race that many are declaring over.

Was Pep Guardiola correct about Man City’s net spend?

Guardiola was indeed correct when he claimed that six Premier League clubs have recorded a higher net spend on transfers than his Man City side over the past five years.

Only Chelsea have splashed out more than the £950m City have paid out on transfer fees during that period.

However, City’s high level of sales income means that they have spent less in real terms than Man Utd (£675m), Arsenal (£663m), Chelsea (£651m), Tottenham (£574m), Newcastle (£424m) and Liverpool (£420m).

Highest net transfer spends by Premier League clubs in last five years

Club	Net spend	Total spend
1. Man Utd	£675m	£940m
2. Arsenal	£663m	£855m
3. Chelsea	£651m	£1.58bn
4. Tottenham	£574m	£861m
5. Newcastle	£424m	£703m
6. Liverpool	£420m	£798m
7. Man City	£396m	£950m

It is worth noting that City’s previous high levels of spending enabled them to build a huge squad value, making operating on a lower net spend easier going forward.

During the first five seasons following Guardiola’s 2016 appointment by City, no other club in world football recorded a higher net spend.

City’s net spend over those five years was £547m — more than 10 times that of Real Madrid.

Second in England during those years was Manchester United with £483m, while Arsenal’s was £291m and Chelsea’s £263m.

So, yes, the data from Guardiola’s net spend rant was accurate — but some very important context was missing.

Highest net transfer spends by Premier League clubs in seasons 2016/17 to 2020/21

Club	Net spend (£)	Total spend (£)
1. Man City	£547m	£823m
2. Man Utd	£483m	£677m
3. Arsenal	£291m	£510m
4. Chelsea	£263m	£786m
5. Aston Villa	£243m	£317m
6. Everton	£238m	£503m
7. Wolves	£212m	£330m

Net spend aside, Guardiola has achieved legendary status during almost a decade in Manchester.

He has delivered 18 trophies to date, including six Premier League titles.

However, it is widely believed that this season could be his last in charge of City.

His legacy could live on for many years to come, though, with three of the main contenders to be the next Man City manager having all previously worked with Guardiola.