Manchester City are back on Uefa’s ­financial watch list after their £220 million spending spree this summer.

City and Paris Saint-Germain were fined for breaching Uefa’s Financial Fair Play rules three years ago and the two clubs’ activity in this summer’s window is now being scrutinised again.

Pep Guardiola could take his spending to around the £300 million mark if he manages to sign £60 million rated Chile forward Alexis Sanchez from Arsenal and bring in another centre-half.

City are also prepared to rival Real Madrid for the £161 million purchase of Monaco striker Kylian Mbappe in the event they cannot persuade Arsenal to sell Sanchez, a move that would push their spending closer to £400 million.