Manchester City management recognise they need to spend big to refresh Pep Guardiola's flagging squad.

The Daily Mail says City will flex their financial muscle to ensure the squad does not decline, with City trailing Liverpool by nine points as they try to win a third consecutive title.

City will also target a number of contract re-negotiations over the coming months to ensure Guardiola's squad remains intact.

City will target a new central defender to replace former captain Vincent Kompany, who left at the end of last season, with replacements also needed for David Silva, due to to leave next summer, and Sergio Aguero in the not too distant future.

Both deals would likely cost City a total of at least £100million.