Manchester City's Success Came at a High Price

Thanks to a relatively straightforward 3:1 win over Everton on the last matchday of the 2023/2024 season, Manchester City have won a historic fourth consecutive Premier League title. No club in the English top flight has ever won four championships in a row before and the fact that it's City's sixth title in seven years speaks volumes of the club's recent dominance.

Ahead of City's penultimate game against Tottenham, City manager Pep Guardiola had raised some eyebrows when he denied suggestions that City's success was boring or just about the money. "It's not boring," he said, "it's difficult. Before, it was the money. For that reason, Manchester United should have won all the titles, Chelsea - all the titles, Arsenal - all the titles." And while he was right in his claim that these clubs spent as much money in the last five years as City - in fact, all three clubs significantly outspent City in terms of net transfer spending since the 2019/20 season - he conveniently ignored the fact that the foundation of City's latest success was laid before that. Players like Kevin De Bruyne, Kyle Walker, John Stones, Bernardo Silva or Ederson - all integral parts of City's squad - all joined the club more than five years ago. Just looking at the past five years is arbitrary at best and intentionally misleading at worst, when in fact no other club has spent more money to assemble its squad than City has since changing ownership in 2008.

Since the Abu Dhabi United Investment Group acquired Manchester City in 2008, the club’s new leadership under chairman Khaldoon Al Mubarak has transformed the club from mid-table mediocracy to a global footballing powerhouse, winning seven Premier League titles since their maiden win in 2011/12. City’s success has always been eyed with suspicion though, as it wouldn’t have been possible without the financial muscle of its Emirati owners. According to Transfermarkt.com, a German website specializing on football transfers, Manchester City’s net transfer spending (transfer spending minus transfer proceeds) since 2008 amounts to roughly €1.59 billion ($1.73 billion), outspending local rival Manchester United by almost €200 million and formerly Russian- and now American-owned Chelsea by more than €250 million. City also faces more than 100 Premier League charges for allegedly breaching financial regulations, further clouding its latest triumphs.

That is not to belittle the club's accomplishments on the pitch. After all, "money doesn't score goals" as German coaching legend Otto Rehagel famously said in 1995. Looking across town at the other Manchester club is enough to illustrate that money alone doesn't guarantee success. Ever since Sir Alex Ferguson retired in 2013, Manchester United has struggled to live up to its name, despite spending nearly as much as its local rival.