The Citizens removed more than fifty players from their roster, in a combination of sales, loans and free transfers, recouping £96m to offset Pep Guardiola's record outlay of £216m.
Big earners such as Samir Nasri, £170,000 per week, Joe Hart, £125,000 per week, and Wilfried Bony, £110,000 per week, were solely responsible for removing close to £20m per year in salaries and bonuses.
Another £30m chunk was cut thanks to the likes of Jesus Navas, Bacary Sagna, Pablo Zabaleta, Gael Clichy and Willy Caballero all coming to the end of their contracts, further making the money men at City confident they remain well within UEFA's Financial Fair Play rules [FFP].
La Liga president Javier Tebas recently reiterated his belief that City are guilty of breaching FFP rules, as part of the fall-out from Neymar's move from Barcelona to Paris Saint-Germain, but it appears as if they club have made moves to ensure they have not breached any rules.
City sources say that the new arrivals who have come to the Etihad have all joined on lower base salaries, with the club instead offering lucrative incentive-based bonuses related to future success.
The Manchester giants are expected to release their latest set of accounts in the next couple of months and it will further highlight the efforts the club has made to lower the wages to turnover ratio.