City’s extraordinary squad rebuild could reach another landmark on Deadline Day, with their gross transfer spending since January 2025 potentially moving beyond €1billion.
According to figures compiled by FootballTransfers, City have spent around €834m on new players since the beginning of last year.
And there could be plenty more to come before Tuesday night’s deadline.
City have agreed a £65m deal with Everton for Iliman Ndiaye, while they are also working on a move for Chelsea midfielder Enzo Fernández.
If both deals are completed, City’s gross spending since January 2025 would move beyond €1bn.
City rebuild has come at enormous cost
The figure underlines just how dramatically City’s squad has changed in less than two years.
The process began with heavy investment in January 2025, when the club brought in the likes of Omar Marmoush, Nico González and Abdukodir Khusanov.
It has continued ever since.
This summer has included the big-money arrivals of Elliot Anderson and Ayyoub Bouaddi, while Brazilian winger Allan has also joined from Palmeiras as Enzo Maresca continues to reshape his squad.
There is important context to the €1bn figure.
It represents gross expenditure rather than net spend, with City also bringing significant sums back into the club through player sales during the same period.
Marmoush and González, for example, have already moved on, while Savinho, Tijjani Reijnders, Rodri and James Trafford are among the other players to have left for fees this summer.
Even so, the scale of the turnover is striking.
Ndiaye looks set to become the next addition, with a medical expected on Tuesday following City’s £60m plus £5m agreement with Everton.
Fernández could then push the numbers beyond the €1bn mark.
City have made contact with Chelsea over the Argentina international, who is reportedly keen on being reunited with Maresca, but there is still work to do before that deal can be considered close.
Whether it happens before the deadline remains to be seen.
But if City do finish the day with both Ndiaye and Fernández, more than €1bn of gross transfer spending since the beginning of 2025 would underline the extraordinary scale and speed of their rebuild.
For updates on City throughout the season, take a look at our LIVE! Premier League 2026/27 News, Transfers, Updates & Viral Moments page.
