Joe Corrigan believes Mark Hughes is the right man to dictate how Manchester City spend their vast new wealth.
Hughes is expected to strengthen his squad in the January transfer window following the takeover by the Abu Dhabi United Group, headed by Prince Sheikh Mansour Bin Zayed Al Nahyan and Corrigan expects the former Blackburn and Wales boss to act wisely and not panic-buy.
"Mark knows what players he wants, and I don't think he is the type who will spend money recklessly," said the former England goalkeeper, who spent 17 seasons at the club. "Today's football is all about 20-24 players. He will be looking to strengthen the squad in depth, not just in one area."
He added: "The people in charge seem to be going about things in the right way.
"It is very exciting for City, having the backing of one of the richest families in the world. Everything looks positive.
"Mark is a good manager and someone who has club and international experience. Under his guidance, I am sure City can forge ahead."
Corrigan - now goalkeeping coach at West Brom - admits to one nagging doubt, however.
"I just hope that it is not one of those situations where everything is expected, and instead City end up shooting themselves in the foot, " he said.
"When you are a fan, you brace yourself for a roller-coaster ride.
"Expectations are rising with all the money that is now available, and I hope that continues and City do not fall back down the slope."
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