Which clubs did Man City’s ‘inflated’ money flow to in transfer market?

Following findings that Manchester City inflated accounts by over £900m, an analysis examined where the club's roughly £1.2bn transfer spend between 2009 and 2018 went. Premier League clubs received just over a quarter of the total outlay, with City signing players from eight English top-flight teams and eight La Liga sides. The article notes that of the 12 clubs receiving the most money from City, only Benfica and Porto won a major trophy within four years of their sales.

Several selling clubs struggled to capitalize on the incoming fees. Wolfsburg dropped toward relegation battles after selling Kevin De Bruyne, while Monaco nearly suffered relegation two years after selling Benjamin Mendy and Bernardo Silva. Additionally, sell-on clauses sent significant sums down the English football pyramid, including an estimated £9m to Queens Park Rangers for Raheem Sterling and £7m to Barnsley for John Stones.