European football governing body Uefa’s FFP rules were introduced in 2009 to prevent clubs spending beyond their means and distorting the market, requiring teams to break even and keep wages and transfer fees in line with income.

In July last year, City’s two-year suspension from European football was overturned by the Court of Arbitration for Sport (CAS) after it ruled that City did not breach FFP rules.

The club’s spending has raised questions again after they signed Grealish for £100 million (US$138.63 million) from Aston Villa, but Guardiola said the deal was possible because of £60 million worth of sales by the club over the past 12 months.

“We have limits because of FFP,” Guardiola said. “We are on the same page like everyone. After that, each club decides what they want to do.

“Every season we have passed the controls that are there for everyone. If we are wrong, prove it.

“I have said before, there are owners who want the benefits for themselves. Our owners don’t want to lose money but if they can spend, they will.”

British media have reported City are also ready to pay in excess of £120 million to sign Tottenham Hotspur striker Harry Kane as they look to replace Sergio Aguero, who left City at the end of last season after a decade-long association.

City begin their Premier League title defence with a trip to Tottenham Hotspur later today.