Manchester City chairman Khaldoon Al Mubarak has sent out a warning to their Premier League rivals ahead of next season.

The City chief has confirmed that the deposed English champions are going to spend money and refresh their squad during the summer transfer window, as they look to get the Premier League title back to the Etihad Stadium.

Manuel Pellegrini's men had a disappointing 2014/15 campaign, which saw them make a late run to finish second, but apart from that they failed in the domestic cup competitions and also made no impact in the Champions League, where they were knocked out in the last-16 by Barcelona for the second consecutive season.

The City chairman insists there will not be a repeat of the season gone by and that the club are willing to spend the money and bring in some top quality players in the summer, while confirming that there will be players departing the club.

The Etihad Stadium outfit have been linked with moves for Liverpool's Raheem Sterling, Wolfsburg's Kevin De Bruyne and Juventus star Paul Pogba.

While Steven Jovetic, Samir Nasri, Alexandre Kolarov and Edin Dzeko could make way as the Manchester club targets domestic and European glory.

"We have a great nucleus here and we want to preserve this nucleus – but at the same time we want to go the next level," Al Mubarak said, as quoted on Sky Sports.

"We want a squad that is able and has the capability and quality to win the Premier League, compete and win the Champions League, compete and be able to go all the way in two cup competitions in England."

"I think you will see some changes. You will see some players who have served us well and maybe it is time for them to move to their next challenge, and you will see us in the market bringing high-quality individuals that fit within what we are aspiring to coming in this summer," the City chairman explained.

"I can assure you the squad will be stronger, the team will be more competitive. I am both confident and excited about what is coming next year."

"I want the disappointment of last year behind me, behind us all. We have all turned the page. The energy right now is positive, the energy towards getting back on track, winning that Premier League and getting a better performance in the Champions League. This is absolutely what is driving all of us right now," he added.

Al Mubarak believes that City have turned the corner and are not a club that have to attract players by offering huge salaries, but a club that players want to play for, due to their ability to win trophies on a regular basis and compete on a regular basis with other top clubs.