Pep Guardiola spent €213 million (R3.1 billion) in his first season at the club, and will continue his revamp of his squad in this window. Here are the latest seven players linked with Manchester City.
Tired of reading? Click through the gallery above to see which seven players are the latest to be linked with City.
The Citizens have released five first team members, namely Pablo Zabaleta, Bacary Sagna, Gael Clichy, Willy Caballero and Jesus Navas, which means they need to bring in at least as many new faces, particularly in defence, as Sky Sports expert Paul Merson explained.
"They need another four defenders if they want to win anything," he said.
"They've got no problem at all with their attack, their Achilles' heel has been in defence.
"If Vincent Kompany is fit then fair enough, they don't have so much of a problem, but getting him fit for 40 or more games a season is an issue."
Essentially, City need two right backs, one centre back and one left back, and, as a consequence, many new faces have been linked with Guardiola's side.
Monaco's Benjamin Mendy, who can fill both fullback positions, is reportedly high on the Spaniard's wish list, while Kyle Walker and Ryan Bertrand have also been mentioned by Sky Sports.
Virgil van Dijk, Leonardo Bonucci and Ben Gibson, as a cheaper alternative, are said to be targets for the centre-back position, while Alexis Sanchez is reportedly Guardiola's main target to improve his attack.
It remains to be seen which of these players the former FC Barcelona and Bayern Munich boss can lure to the Etihad, but his club definitely has the money to secure most, if not all, the targets he wants.
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City have already signed Monaco's highly rated attacking midfielder Bernardo Silva for a reported fee of €50 million (R724 million), as well as Brazilian goalkeeper Ederson for €40 million (R580 million) from Benfica in this window.
Which of these players would you like to see at City? Have your say in the comments section below.