Manchester City's new owners are ready to spend £300 MILLION on Mark Hughes' squad over the next three years.

The Sunday Mirror says City's owner is prepared to spend a minimum of £100million on players in each of the next three years.

Sheikh Mansour bin Zayed Al Nahyan believes City can break into the Champions League elite by 2011 if he invests heavily in the team.

City's new Arab hierarchy have attempted to distance themselves from the initial claim of former consortium leader Dr Sulaiman Al Fahim that football's biggest names will be heading to the club.

But the Abu Dhabi United Group have told Hughes that money will be no object if the right players can be persuaded to consider the Blues as an option.