According to Manchester Evening News, Manchester City spent a total of £1.2 billion to sign 45 players from 2009 to 2018.

Following the Premier League's guilty verdict against Manchester City for alleged breaches of financial regulations, questions have been raised about the club's success over the past 15 years. An independent panel found that all financial rule-breaking allegations against Manchester City from the 2009-10 season through the 2017-18 season were proven. The panel concluded that Manchester City inflated revenues and reduced costs through a scheme worth around £1 billion, which included a series of "inflated" contracts.

Manchester City denies all wrongdoing and plans to appeal the verdict. The club could face severe punishments including Premier League expulsion, points deduction, and substantial fines.

These 45 players contributed to Manchester City winning seven major trophies, including three Premier League titles. Below is an assessment of Manchester City's transfer activity during this period.

2009/10 Season (Cost: £12.6 million):

Tévez was not a legend, but he was among the most significant signings of that era. Acquiring Tévez from Manchester United was a signal of the club owner's strong ambitions.

Kolo Touré and Gareth Barry were less renowned, but both made considerable impacts on the team. Adebayor looked like a good signing on paper, but faded after a promising start. Santa Cruz's Manchester City career was unsuccessful due to injuries and competition for playing time.

2010/11 Season (Cost: £15.7 million):

David Silva headlined this impressive signing list, with Yaya Touré close behind. Aleksandar Kolarov and James Milner were also excellent and influential players. Edin Dzeko deserved more praise, including his equalizer against Queens Park Rangers. Balotelli combined flamboyant personality with outstanding performances.

2011/12 Season (Cost: £7.8 million):

Sergio Agüero's place in Manchester City history needs no further explanation. He was arguably the best signing of that era. Samir Nasri was sometimes brilliant but also disappointing. Gaël Clichy provided stability in left-back. Stefan Savić had a near-disastrous season at Manchester City.

2012/13 Season (Cost: £5.3 million):

After perhaps their most successful transfer season, Manchester City experienced what was arguably their worst transfer window. Matija Nastasić made a promising start and was named Young Player of the Year in his first season, but his form declined thereafter. Javi García was a reliable midfielder but nothing more, while the rest of the signings are considered failed transfers.

2013/14 Season (Cost: £9.9 million):

Fernandinho was among Manchester City's most important signings and is widely regarded as one of the greatest defensive midfielders in Premier League history. Álvaro Negredo played a crucial role in the 2013/14 league title and earned fan recognition, though injuries affected his Manchester City career. Jesús Navas also showed flashes of brilliance despite his versatility, while Stevan Jovetić suffered similarly from injuries.

2014/15 Season (Cost: £8.8 million):

Fernando's performances were mediocre at best, while Eliaquim Mangala and Wilfried Bony were complete transfer failures. Willy Caballero was a popular and reliable backup goalkeeper, saving three penalties in the League Cup final shootout against Liverpool.

2015/16 Season (Cost: £17.9 million):

Kevin De Bruyne is not only Manchester City's greatest player of that era but also a candidate for the club's best player in history. Raheem Sterling performed well, but given his significant career decline afterward, Manchester City timed his transfer appropriately. Nicolás Otamendi and Fabian Delph were also excellent and influential players.

2016/17 Season (Cost: £18.5 million):

Another generally excellent transfer season highlighted by John Stones and Leroy Sané. However, Claudio Bravo and Nolito failed to meet expectations, while Gabriel Jesus became an excellent backup to Agüero.

2017/18 Season (Cost: £27.2 million):

The most expensive season during this period, Manchester City signed Aymeric Laporte, Ederson, Kyle Walker, and Bernardo Silva, all of whom later became key players for the team. Danilo was a reliable rotation option, but Benjamín Mendy's Manchester City career was cut short by off-field issues.

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