Yep and when they bought it.. top players were costing 30-40 mil with generational players costing 80 mil.
With inflation over a decade top players are now over 100 mil each and generational will cost more like 200 mil. That's per year and going to keep on inflating.
They can't compete with that kinda money. They got lucky with the Coutinho sale papering over the cracks and got lucky they got Spurs in a CL final and an injured City season to win their PL but otherwise it's not a legitimate top club.