Manchester City boss Mark Hughes can only sign one of Shay Given, the Newcastle goalkeeper, or Blackburn striker Roque Santa Cruz, it has been revealed.

The Mail on Sunday says City's Abu Dhabi owners are determined not to exceed their £100million January transfer and fees budget and that means Hughes is likely to get the green light for just one of his two remaining targets.

City's billionaire owners, who would have ripped up their budget plans for a special case such as Kaka, have already forked out more than £90m in transfer fees and wages so far this month on Wayne Bridge, Nigel De Jong and Craig Bellamy. Each has signed four-and- a-half-year deals worth about £18m.

And they are not willing to go way above their original spending forecast unless they get late offers for a group of their available players, including Elano and Benjani.

A source said: "City always had a budget in mind for January. It's not a case of paying whatever the selling club want."