With the 2023 January transfer window now open, we round up Manchester City's done deals, plus the players linked with moves in and out of the Etihad.
Cancelo departs City for Bayern, denies Pep rift
Manchester City defender Joao Cancelo has completed a Deadline Day loan move to Bayern Munich, insisting he wants to play more, rather than a rift with Pep Guardiola, that saw him leave.
The deal is an initial loan with an option to buy the full-back for more than £61m (€70m).
Cancelo posted a goodbye message on his Instagram page on Tuesday which read: "Once a Cityzen, always a Cityzen. Thank you."
Cancelo has had limited game time at City this season, and has seen Guardiola change the team's shape and formation. His game time was likely to be more restricted than he would like moving forward.
Cancelo later said at a press conference: "I've not had much game time in the past few weeks, which influenced my decision. There was speculation that my relationship with Pep was not the best, but fact is I wanted to play more.
"I really wanted to embark on this new adventure at such a club with such a big history. It's a dream for me. I'm very happy to be here and to show my footballing qualities.
"I know that this club, this team, lives for titles and wins titles every year. I'm also driven by the hunger for success."
Cancelo's representatives are understood to have brought the interest from Bayern to City and, given the emergence of Rico Lewis and the performances of Nathan Ake at full-back, City allowed Cancelo to move.
Analysis: 'Everybody wins' from Cancelo's move to Bayern
European football expert Kevin Hatchard:
"This deal is very Bayern Munich in some ways. They are really good opportunists. They've got the money ready so that when this kind of opportunity comes up, they can move.
"If you look at it, Alphonso Davies is an absolute lock in that left-back position, but do they have a huge amount of cover? They brought in Daley Blind in theory to cover him.
"But on the right side it is more complicated as they've got Benjamin Pavard, who is not hugely in favour and has talked quite openly about potentially moving on in the summer.
"He didn't start the game at the weekend against Frankfurt - instead they went with Josip Stanisic, who is a 22-year-old, good player but happy to be a back-up.
"Noussair Mazraoui, who was brilliant for Morocco at the World Cup, has this pericarditis issue at the moment so they're keeping an eye on him and when he does come back I would think they will ease him in gently.
"So to have a player of Cancelo's quality to come in and play that right-back role is a massive upgrade for Bayern at the moment. The structure of the deal is great as it's a loan. Everybody wins."
Man City sign Perrone for £8m
Manchester City's only arrival in the January transfer window was the signing of Velez Sarsfield's Maximo Perrone on an £8m deal.
The 20-year-old Argentine midfielder signed a five-and-a-half-year deal at the Etihad Stadium.
Perrone played 33 games for Velez after making his debut for the club in March of last year and plays for Argentina's U20 side.
Confirmed Man City signings
Maximo Perrone - Velez Sarsfield, undisclosed
Confirmed Man City departures
Joao Cancelo - Bayern Munich, loan
Morgan Rogers - Blackpool, loan
Liam Delap - Preston, loan
Josh Wilson-Esbrand - Coventry, loan
Kayky - Bahia, loan
Luke Mbete - Bolton, loan