Manchester City's transfer history has come under scrutiny once again following an independent commission's ruling that found the club guilty of serious breaches of Premier League financial rules spanning nine seasons, from 2009/10 to 2017/18. The commission upheld three out of four charges relating to a refusal to cooperate with the investigation. The City hierarchy deny the allegations and have lodged an appeal against the decision, with a potential punishment to be determined later.
This situation inevitably raises the question: where might current and former Manchester City players have ended up had the club not been able to compete for their signatures? Though it's impossible to predict in football, the real documentation, transfer negotiations, and interest from rival clubs provide a clearer picture of missed opportunities.
Gianluigi Donnarumma - Manchester United
Manchester United began discussions with PSG regarding Gianluigi Donnarumma's transfer in July 2025 after an initial inquiry. Chelsea and Manchester City were also interested in the Italian goalkeeper, who had lost his starting position at Paris following the arrival of Luca Chevalier. United had a real chance to capture the keeper before City secured a deal worth around £30 million in September. Ultimately, Manchester United signed Senne Lammens, leaving Old Trafford as the most likely alternative for Donnarumma.
Marc Guehi - Liverpool
Liverpool were very close to signing Marc Guehi in the summer of 2025. The Reds had agreed on a compensation package of £35 million with Crystal Palace, and the defender was preparing for a move. However, the deal collapsed at the last moment when the London club failed to find an adequate replacement for their key player. Manchester City capitalised by securing a transfer for the defender in January 2026, amid injuries to Ruben Dias and Josko Gvardiol, having made use of the groundwork laid by the Reds, who had nearly completed the transfer.
Ruben Dias - Arsenal
Before his move to City from Benfica in September 2020, Ruben Dias was on Arsenal's shortlist. The Gunners had been closely monitoring the progress of the promising Portuguese centre-back. City clinched the race by paying £62 million while including Nicolas Otamendi in the deal, making Dias a key figure in Pep Guardiola's defence.
Abdukodir Husainov - Newcastle United
Newcastle United were the main rivals for Manchester City in the pursuit of Lens defender Abdukodir Husainov. According to the player’s agent, Gayrat Khasbiullin, around 12 English clubs were in contact with him in January 2025, but the Magpies fought until the end. City acted quickly, completing the deal for €40 million plus bonuses, outpacing the team from St. James' Park.
Josko Gvardiol - Chelsea
Chelsea made a significant attempt to acquire the Croatian defender as early as 2022. The London club offered RB Leipzig around €90 million, with plans for the player to move to the capital the following summer, but the German club declined their offer. Chelsea maintained their interest in Gvardiol, but in 2023, Manchester City took the initiative and acquired the defender for £77 million.
Rayan Ait-Nouri - Liverpool
Liverpool considered Algerian full-back Rayan Ait-Nouri as a potential left-wing addition before he moved to Manchester City from Wolves in June 2025 for £31 million. His attacking potential, dribbling ability, and ball control made him a good fit for both teams, but the Manchester side acted faster and more decisively in the market.
Matheus Nunes - Liverpool
The Reds showed keen interest in the midfielder well before his transfer to City in August 2023. Liverpool had been tracking the Portuguese player during his time at Sporting Lisbon and had planned for a summer move in 2023. After an initial rejected bid, City succeeded in acquiring Nunes for £53 million, depriving Liverpool of a key midfield target.
Ryan Cherki - Liverpool
The French playmaker became a sought-after player in the market following a season at Lyon, where he recorded 12 goals and 20 assists. His ability to operate between the lines and create in tight spaces attracted scouts from many clubs. Liverpool were among the main contenders, but Manchester City got the jump on their rivals and signed the midfielder in 2025.
Jeremy Doku - West Ham United
In August 2023, West Ham took genuine steps to acquire the winger from Rennes, making an official offer. The French club rejected the initial request, and shortly after, Manchester City entered the negotiations. They paid £55.5 million, finding a direct replacement for Riyad Mahrez, who had departed for Saudi Arabia's Al Ahli.
Iliman Ndiaye - Tottenham
Tottenham were closing in on Senegalese striker Iliman Ndiaye before Manchester City intervened, paying £60 million plus bonuses for the Everton player in September 2026. North London hoped to bolster their attack with the versatile dribbler but faced disappointment when the Senegalese opted for the Champions.
Antoine Semenyo - Liverpool
The Merseyside club actively pursued Ghanaian striker Antoine Semenyo from Bournemouth ahead of the winter transfer window in 2026, particularly in light of Alexander Isak's severe injury. A buyout clause worth £65 million was included in the forward's contract. Liverpool did their due diligence but didn't formalise any requests, allowing Manchester City to quickly activate the clause and seal the deal.
Allan Elias - Aston Villa
The Birmingham club made a concrete offer to Palmeiras worth €30 million (£25 million guaranteed plus £5 million in bonuses), but the Brazilian side rejected it. In August 2026, City offered €40 million including bonuses, securing the winger as a replacement for Savinho, who moved to Tottenham.
Erling Haaland - Bayern Munich
Bayern Munich were on the shortlist for Norwegian goal machine Erling Haaland before his move from Borussia Dortmund in 2022. In a documentary, the player's father, Alf-Inge Haaland, outlined the family’s preferences: first Manchester City, second Bayern, then Real Madrid and PSG. The high financial demands and salary complexities complicated the deal for the Germans, leading to the Manchester side claiming the forward.
Matteo Kovacic - Bayern Munich
The Munich side also expressed interest in the Croatian midfielder in the spring of 2023 when he had just a year remaining on his Chelsea contract. Alongside Manchester United, the German giants tracked the situation, but City swiftly paid £25 million plus bonuses, seamlessly integrating the experienced midfielder into their ranks.
Enzo Fernandez - Real Madrid
Real Madrid and Manchester City were interested in the Argentine midfielder during his time at River Plate in 2022. Both giants monitored him until his move to Benfica, from where he later joined Chelsea. At that South American stage, Madrid were the principal alternative for the World Cup winner.
Elliot Anderson - Manchester United
In the summer of 2026, Manchester United were locked in a direct battle with their neighbours for Nottignham Forest midfielder Elliot Anderson. United aimed to secure the British midfielder, but the player ended up choosing a move to Pep Guardiola's side.
Ayub Buaddi - Arsenal
Ayub Buaddi, a young Lille midfielder, drew attention from Arsenal, along with Real Madrid, Barcelona, and PSG. In the summer of 2026, the Gunners and Liverpool engaged in active talks with the French side, but ultimately, it was Manchester City who finalised the transfer of the talented midfielder in August.
