In a press conference before the Carabao Cup semi-final second leg against Newcastle United on February 4, 2026, Pep Guardiola defended Manchester City against allegations that their success is primarily due to financial expenditure. Over the past five years, Manchester City’s net spend has totaled £396 million, placing them seventh in the Premier League behind teams such as Manchester United, Arsenal, Chelsea, Tottenham, Newcastle, and Liverpool. Guardiola expressed disappointment at this ranking and challenged the higher-spending clubs to replicate City's success on the pitch. Guardiola pointed out the perception that Manchester City continuously splashes out money for success, while other clubs that have outspent them receive less scrutiny. He emphasized that City’s recruitment strategies and overall financial management, alongside a young team, play crucial roles in their achievements. Despite the club being viewed as big spenders, Guardiola mentioned that their net spend is not as high as some competitors, suggesting a more nuanced view of financial expenditure in relation to performance. The manager also highlighted that the club has sold several players who were once part of their academy, indicating a profitable strategy in managing their roster. In recent seasons, City has made sizable investments, including the £100 million signing of Jack Grealish, but Guardiola argued that the narrative surrounding their spending does not capture the complete picture. As Manchester City prepares for their upcoming matches, Guardiola remains hopeful that their earlier acquisitions and ongoing development will lead to further successes, despite the financial narrative surrounding the club. He concluded his statements with a confident outlook on their chances in both domestic and international competitions, reiterating his club's dedication to winning trophies regardless of their financial standings.