Yeah, but Man City have had the same manager since 2016, so that’s all been Pep’s spending, add to that the squad he inherited and the deals he’s done and it’s not that accurate of a picture, deals like Haaland were more about the fees and wages, as the clause in his Dortmund contract made the fee lower to get more money into agents/players pocket.
Liverpool have had similar with management, but they’ve had restricted spending compared to others, it didn’t show up that much at the time, but is now with an ageing squad.
I think Man City also have a good team above Pep, they don’t get held to ransom, they just move to another target, ManU and Chelsea have suffered the opposite, desperate to be competitive they’ve overspent on a lot of players.
Can see ManU spending a bit this summer, they’re not that far off being competitive, they do need 3 or 4 players though, especially a proper front man.