Declan Rice is on the verge of completing a move to Arsenal from West Ham (Picture: Getty)

Manchester City chief executive Ferran Sorriano insists the Premier League champions will not alter their transfer strategy after pulling out of the race to sign Declan Rice.

The Premier League champions appeared ready to go toe-to-toe with Arsenal in an effort to sign the West Ham captain when they matched the Gunners’ bid earlier this week and offered a deal worth £90million.

After that bid was swiftly rejected, Arsenal finally opted to meet the Hammers’ £100million asking price which prompted City to drop their interest in the combative midfielder.

It far from the first time big-spending City have walked away from a potential deal with the likes of Kalidou Koulibaly, Alexis Sanchez and Marc Cucurella having been forced to settle for moves elsewhere having appeared, at various points, destined for the Etihad Stadium,
Explaining City’s strategy, Sorriano, speaking at the announcement of a new sponsorship deal with cryptocurrency giants OKX, said: ‘If you look at what we did at the start of this project, there was a need for a lot of changes and investment – but not anymore.

Manchester City made a £90million offer for Declan Rice (Picture: Getty)

‘If you look at what we have done in the last five years, our level of investment in new players is well thought out.’

The dust has hardly settled on City’s historic treble success b...