Manchester City have been a busy club this transfer window having signed Raheem Sterling, Fabian Delph and Patrick Roberts for a combined fee of around £65 million.
Their pursuit of English players continues as they try to meet the homegrown player quota imposed by both the UEFA and the English Football Association.
They also let a host of players including James Milner, Micah Richards, Stevan Jovetic and Scott Sinclair depart for other clubs.
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Last year, they were restricted highly due to Financial Fair Play which led them to make some unsatisfactory signings. Barring Frank Lampard, all other players failed to male any sort of impact at the Etihad.
However, with the restrictions lifted this summer, the club is expected to make some big money moves in the transfer market. As Pellegrini prepares his team for an important season, below is a list of five players who could make make the club a force in England as well as Europe.
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1. Kevin de Bruyne
Media reports have often linked De Bruyne with Manchester City this summer. The Wolfsburg midfielder set ablaze the Bundesliga last term as his performances secured the club a second placed finish.
After failing to impress Mourinho at Chelsea, he moved to the German club where he notched up ten goals and 21 assists in the league, the latter being a record. Manchester City will surely benefit from the services of De Bruyne and his partnership with David Silva in attacking midfield will be a treat to watch.
He is currently one of the hottest prospects in Europe and Manuel Pellegrini must make a move for this player before making the same mistake as Mourinho.
2. Paul Pogba
Touted as the best midfielder of his generation, Pogba is a complete package. He can be called as the upgraded version of Yaya Toure. The current Manchester City squad revolves around Toure pretty much.
At 32, the Ivorian can no longer be expected to produce those lung bursting runs and be fit at the same time. Pogba, the French international, fits the bill perfectly as his style of play is similar to Toure.
His breakthrough 2014-15 season at Juventus saw the club winning the Serie A and the Coppa Italia. They also finished runners-up in the Champions League. A player of his pedigree and potential is sure to bring much eluded European success to the club.
3. Nicolas Otamendi
The Argentine centre back enjoyed a stellar debut season with Valencia. His performances gained widespread attention as he played a pivotal role in attaining a Champions League qualifying spot for the club.
A no-nonsense defender who is rock solid at tackles and interceptions, he can partner Kompany at defense for City. With clubs circling like sharks around Otamendi, Pellegrini must act quickly to avoid losing a player of his caliber.
4. Dani Carvajal
Bacary Sagna has not provided enough competition to Pablo Zabaleta who turns 31 in January, 2016. The Real Madrid full back is known for his menacing forward runs, accurate crosses and high work rate.
With Los Blancos signing Danilo, Carvajal is sure to get pushed out of the starting 11. Manchester City must take advantage of the situation and sign Carvajal as soon as possible. He will surely succeed at the Etihad if given the chance.
5. Alex Sandro
City's two left backs Aleksander Kolarov and Gael Clichy had mediocre seasons last term. One possible answer to this problem is the Alex Sandro from Porto.
The Brazilian is an attacking minded full back who is also adept in performing his defensive duties. Moreover, he is just 21 and can very well solve the left back problem for City.