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Pep Guardiola believes Liverpool receive more lenient treatment over their transfer expenditure compared to Manchester City.
He said the same of Arsenal too, who his side face in the Premier League on Sunday.
Fresh from winning the title last season, the Reds have splashed £446m on new players for Arne Slot in just one window - they even broke the British transfer record twice over.
Liverpool claimed the title from rivals City, who had taken a stranglehold of the Premier League winning it four times in a row.
Since the beginning of the 2020/21 campaign they have spent more than £1bn on replenishing their squad, and in that same timeframe Arsenal - the runners-up in each of the past three seasons - have spent £984m.
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"I want to say to my friend Mikel Arteta, if he wins the title, it will be just because he spent, not because he worked a lot or his players," Guardiola commented at his pre-Arsenal press conference on Friday afternoon.
The City boss continued: "It's like Liverpool.
They spent what they believe they can to compete against the best teams in the Premier League and Europe."
We are only four matches into the 2025/26 campaign but already City trail their two biggest title rivals.
Liverpool have not slipped up once yet, whilst the Gunners' only dropped points so far this season when they lost 1-0 at Anfield.
City suffered back-to-back defeats to Tottenham Hotspur and Brighton, sandwiched between wins over Wolves and Manchester United.
Their points deficit, and ultimately the pressure on Guardiola to improve the situation, will only increase if they fall to another loss at the Emirates Stadium on Sunday.
"[To] see the team going up.
See the team make a step forward every day," Guardiola added.
"We're not going to win the Premier League on Sunday.