Over the course of Pep's tenure City have spent 16% more on players and wages.
This is not insignificant, it's an advantage for sure, but it's amazing how things fall into perspective when someone does the maths and shows that the differences are not infinite, as the media would like us to believe.
For example, spending an extra £17m a season would have nearly halved the gap. Don't FSG have that much to spare? Spoiler, yes they do.
Or when Liverpool let possibly £75m+ in Wijnaldum, Karius and Origi walk out the door for nothing, and sold their best player, 2nd in the Ballon D'Or rankings for £27m...that financial gap does take on quite a different look.
One of the media narratives around Liverpool is that they "have to be perfect" in the markets to keep up with City. I'm not sure that's true, but I'm 100% sure they haven't even gotten close to perfection in their squad management. They'll likely lose Oxlade-Chamberlain, Keita, Firmino for zero as well because they leave all their decisions too late. 18 months ago they probably could have gotten 15-20m for Ox, Firmino is going to be so much harder to keep hold of now he'll get all those juicy free agent contracts.