Manuel Pellegrini to cut Man City's spending

Manuel Pellegrini has kicked off his reign at Manchester City by warning that the days of spending heavily on players every summer has come to an end....

The Chilean, who replaced Roberto Mancini as manager last month, said City have to bring through more young players in the future.
City have already spent more than £45 million on bringing winger Jesus Navas and midfielder Fernandinho to the Etihad Stadium in the close season and Pellegrini, who also had an interest in Real Madrid defender Pepe, wants to add a striker.
But the 59-year-old said that City have to be quieter in future transfer windows.
"It is impossible to buy three, four or five players every year," he explained. "We need a mix with young players. We need to work with the under-21s."
Mancini was sacked after City finished second in the Premier League and were runners-up in the FA Cup but Pellegrini insisted that he does not fear the same fate.
"I am not concerned about that," he said. "It is not only to win trophies. I am here to work with young players."
Chief executive Ferran Soriano was quoted saying that City wanted to win five trophies in as many years but Pellegrini added: "I repeat, I am not concerned about that."