They may have left it late, but Manchester City have completed a fairly dramatic overhaul of their squad, highlighted by the deadline-day purchases of Enzo Fernandez, for a Premier League-record-equalling £125million ($169m), and Iliman Ndiaye.City sold many of the players who were supposed to represent the new era, with four bought in the last 18 months moved on swiftly for big fees, while club legends Rodri, Bernardo Silva and John Stones have all departed.It left City with plenty to do, and after signing Elliot Anderson for £116m during the World Cup they had to push through most of their big business in the final week of the window — something that became a necessity to ensure that new head coach Enzo Maresca was fully backed.Was this window a success or a failure?Having to replace Rodri and Bernardo meant it was always going to be a very challenging and important window for City, but they have emerged from it with a very strong-looking midfield considering the signings of Fernandez, Anderson and Ayyoub Bouaddi.Their outgoing business also has to be considered a huge success, having brought in an initial £265m for Savio, Tijjani Reijnders, Rodri, Nico Gonzalez and James Trafford. Omar Marmoush will also fetch another £60m when he completes a permanent move to Tottenham Hotspur after spending this season there on loan.Many of those players only joined the club in the past two years, which is hardly a ringing endorsement of recent business, but the way they have moved on many unconvincing performers is undeniably impressive.The goalkeeping department has probably been downgraded, considering the highly promising Trafford left, and was replaced by Geronimo Rulli, a solid backup option at 34 years of age. They may also be short of an Erling Haaland alternative, and will have to use Antoine Semenyo or Phil Foden through the middle when the Norwegian does not play.City freshened up the attack with Ndiaye and Allan and they are exciting dribblers, but they did appear to be late, reactionary purchases — considering Cody Gakpo was initially preferred to Ndiaye — and given so many players were moved on within 18 months of arriving, it is hard to have full faith that those new signings will be big successes.How much did they spend and how much did they bring in?City both spent and received huge amounts.They spent around £451m in initial fees, excluding add-ons, on players, including Pierce Charles, who was loaned to Queens Park Rangers, and Jeremy Monga, who has been loaned to Swansea City.That, though, is just the reported transfer fees; the true cost of incoming transfers, at City and everywhere else, is much higher. Once the Premier League’s four per cent transfer levy is added, alongside an estimation of agent fees, City’s gross spend comes in at £514m — likely a single-window record in football.That huge outlay was made possible in large part by recouping £279m, excluding add-ons, and they will also receive £60m for Marmoush next summer.That leaves a net spend, inclusive of those estimated additional costs, of £235m.Who have they signed?The big-name arrivals came in midfield, through Fernandez, Anderson and Bouaddi.The attack was strengthened with Ndiaye and Allan, while Rulli came in in goal and Monga and Charles were brought in with one eye on the future.The five best transfers of the 2026 summer windowTim SpiersWere there any deals they wanted to do but couldn’t?City had wanted to sign Gakpo from Liverpool, but after he had agreed terms the move was cancelled when the Merseysiders realised they would not be able to bring in a replacement. That led City to pivot to Ndiaye, so while their preferred move did not get done, they were not left entirely empty-handed.Multiple sources familiar with the situation also indicate that City made checks to see whether Julian Alvarez might return amid his ongoing stand-off with Atletico Madrid, although there was little encouragement. City deny interest in Alvarez.They had also aimed to sign a right-back at the beginning of the summer but could not find a suitable option.Manchester City had hoped to sign Cody Gakpo but the deal fell through (Carl Recine/Getty Images)Are there still any obvious gaps in the team?The lack of an alternative striker to Haaland could be problematic if the 26-year-old misses any significant period, and given Trafford played an important role in City winning two domestic cups last season, Rulli will have a lot to live up to.Do they have the squad to achieve their goals for the season?On balance, yes. Despite those small doubts at either end of the pitch, they have built an impressive-looking midfield that may, admittedly, need time to gel but contains a huge amount of quality. Ndiaye and Allan are exciting in their own ways but do not feel quite as impressive as the midfielders — but that said, they are replacing Savio and Marmoush, who often disappointed. Ndiaye in particular has excited fans and could be a shrewd addition.The defence was already strong, and with Haaland, Semenyo and Jeremy Doku in situ, the attack is certainly well stocked, aside from the backup striker.Will Maresca be happy?Maresca had been hoping to replace all outgoings like-for-like, but they have in effect not replaced Nico. Sources at City indicate that Nico O’Reilly will be used there if needed, although Maresca is thought to prefer him at left-back. Marc Guehi was used in midfield in the first game of the season and would be another option.Even so, with Fernandez, Anderson and Bouaddi, as well as Mateo Kovacic as another deep option and Rayan Cherki and Foden for the advanced positions, there is surely plenty of variety.City intended to back Maresca, who himself had a significant say in transfers, and while much of the business was done late, the squad does look strong — arguably stronger than last summer.What will their priority be in January?There is no glaring issue, and while an alternative to Haaland could prove useful, it may be that the winter window is not the best time to find the right candidate.It is possible that a right-back could be needed, but in Matheus Nunes they have a first-choice option, while Abdukodir Khusanov fits into Maresca’s plans as he can start at right-back and then take a right-sided centre-back position in City’s three-man defence when in possession.City showed last year when they signed Semenyo and Guehi that they will get top players when they become available midway through the season, but right now there is no obvious weakness.Will they have money to spend?Given the money they made this summer and the promise of another £60m from Marmoush, it would be no surprise if they could make another £50m or £60m purchase like Semenyo or Guehi, but whether they find the right player for that — or need to do that — remains to be seen.What is their strongest XI now the window is shut?(4-2-1-3): Donnarumma; Nunes, Guehi, Gvardiol, O’Reilly; Fernandez, Anderson; Cherki; Semenyo, Haaland, DokuThe full list of ins and outsIn: