As I have stated previously, I wouldn't breach the wage structure unless that meant offering key players new deals as well. Keeping the harmony of the squad is the main thing.
As for those were the days, if I remember correctly we couldn't afford to sign Alexis Sanchez from Barcelona because of the high wages and due to FFP. We are in a much better financial position now than we was back in 2012, 2013.
Players like João Felix, Koulibaly, Aouar, Ziyech, Nicolas Pepe, Kai Havertz etc won't be on mega, mega wages. You are probably looking at 130k max if these types of players joined City and that's pretty reasonable considering Ashley Young is on about the same. Some of these players might cost between 70-100m for example, but that is where I don't honestly care. As I've said over and over again, the market has already been shattered, if City were to pay a big transfer fee on a particular player, it makes absolutely no difference to the market, NONE whatsoever. The way deals are structured anyway, it would be spread across months and years in installments (amortisation).
I think the biggest dilemma we will have in the next two seasons is finding a perfect replacement for Aguero. If we aren't willing to loosen the pursestrings and be more flexible regarding transfers, then we will never get a player close to his kind of quality. Jesus is good but he's never going to be good enough to replace Aguero. What if Kane is the answer for us? Will City spend the money necessary to acquire him as a replacement for Aguero? What if Mbappe is on the transfer list, will we ever fight to acquire him as a replacement for Aguero?
This is where I want to see City being ruthless, when it is needed.