MANCHESTER, ENGLAND - MAY 11: The Manchester City players celebrate with the Premier League trophy at the end of the Barclays Premier League match between Manchester City and West Ham United at the Etihad Stadium on May 11, 2014 in Manchester, England. (Photo by Shaun Botterill/Getty Images)

Manchester - Manchester City chairman Khaldoon Al Mubarak has shrugged off the limitations of a £49million transfer cap by revealing that the Premier League champions are well on the way to landing their summer targets.

City want defender Bacary Sagna on a free transfer from Arsenal and retain a strong interest in £35m-rated Porto defender Eliaquim Mangala and teammate Fernando, despite UEFA’s punishment for breaching Financial Fair Play rules.

As well as having their net spending capped, City’s wage bill has been frozen, though £200 000-a-week will be freed up after Khaldoon confirmed that the club will not be offering new deals to Gareth Barry and Joleon Lescott.

City spent nearly £100m on Fernandinho, Jesus Navas, Alvaro Negredo and Stevan Jovetic last summer and Khaldoon said: ‘Expect the same - but even earlier. We know exactly what needs to be done. Then we will go into the season very ready, as we did last year, to compete in all four competitions.’