Manchester City insist they won't pay over the odds for new signings this summer.

City have not ruled out making a massive bid for a player and maintaining a watching brief on Wolfburg's Edin Dzeko as well as Liverpool pair Steven Gerrard and Fernando Torres.

A City source told the News of the World: "Last summer was an accelerated buying process. As a result, fees were at a premium, especially with players like Santa Cruz and Lescott.

"The club can afford to be a little choosier in terms of negotiation on potential targets. The quality of the squad is strong and the manager believes he only needs a few key additions while also wanting to get value for money for the owners."