Manchester City have already slashed a massive £643,000-a-week off their wage bill since the January transfer window.
Carlos Tevez was the latest high earner to go - £198k a week - when he was sold to Juventus for £10m last week.
The January sale of Mario Balotelli to AC Milan saved City £150,000-a-week, while three out-of-contract players have also been released, says the Daily Star Sunday.
Wayne Bridge and Roque Santa Cruz were on £90k a week, while Kolo Toure - snapped up by Liverpool on a free - was on an astonishing £115,000-a-week at the Etihad.
All that adds up to an annual saving of more than £33 million.