Manchester City chairman Khaldoon al Mubarak has dismissed criticism of their massive summer spending.

City have come in for heavy criticism, not least from UEFA president Michel Platini, over the distorting effects their new-found resources have had on the transfer market, with the European governing body plotting rule changes requiring clubs to become self-sufficient in the near future.

But Khaldoon defended City's spending of more than £200million on 11 players since Sheikh Mansour bin Zayed al-Nahyan, a member of the Abu Dhabi royal family, bought the club a year ago.

"I could accept the argument if we were artificially building up the club through debt," Khaldoon told the Guardian.

"That produces a destructive end result; we have seen that happen. But in our case, the club will be in the healthiest position because there is no debt. We have funded it through equity [permanent investment], including the signing of the players.

"I believe what we are doing is a fair way to inject competition into football, without debt."