Manchester City boss Pep Guardiola has defended their summer mega spending.

City have broke all spending records so far this summer.

City have already spent £217m this summer, including £130m on three full-backs, but Guardiola said the prices paid were simply the market value.

"It's a lot," said Guardiola. "It's a lot, but I think that 10 years ago Real Madrid paid £30m for Pepe and Barcelona £37m for Dani Alves.

"That period was amazing, and now it increases a lot. I couldn't imagine two, three years ago paying £100m or £120m for a player, but now it happens and it will happen more.

"I would like to pay less, but the market is the market."