The club also saw Raheem Sterling leave for league rivals Chelsea after seven years at the club.
Pep Guardiola will be keen to continue adding to his squad, with his sights firmly set on finally winning the Champions League with the Manchester side.
In light of this, here is the latest City transfer news and rumours.
Bid rejected for Cucurella
Brighton have rejected a £30m bid for their left-back Marc Cucurella after impressing in his first season in the Premier League.
The 23-year-old joined the Seagulls from Getafe last summer for £15m and Graham Potter is adamant the player will remain at the club.
Sky Sports have reported that Brighton have put a price tag of £50m on the defender, but it is expected that City will return with an improved offer for the player.
City are set to part company with left-back Oleksandr Zinchenko as Arsenal have bid £32m for the Ukrainian.
City offered Benfica defender
iNews have reported that Manchester City have been offered the opportunity to sign Alex Grimaldo from Benfica.
The Spanish defender has previously been linked with a move to Arsenal and the Portuguese side have made him available for a mere £15m.
The 26-year-old is seen as a possible alternative to Cucurella if Guardiola is unsuccessful in his approach for the defender.
City to compete with Barcelona for defender?
Barcelona will go toe to toe with Manchester City in their pursuit for Spanish defender Pau Torres this summer.
According to Marca, Barcelona have taken over Guardiola’s side to become favourites for the Villarreal player. Torres has been told he will be allowed to leave the club this transfer window.
Nathan Ake’s failed move to Chelsea has stalled the Premier League’s club approach for Torres but they are still confident in securing the £60m player.