Manchester City manager Mark Hughes has rebuffed criticism from Sir Alex Ferguson over the club's spending this summer.
City's latest signing was Carlos Tevez, who spent the last two seasons under Ferguson at Manchester United, on whom they spent £26.5million.
Ferguson described City's spending this year as "stupid" and "unrealistic".
But Hughes said: "We haven't had the benefit of Champions League money over a long period and we haven't had the success to generate the large amounts of money.
"All the squads and managers have spent large amounts to be successful. That has never changed. We are trying to be successful and, to do that, we have to spend money.
"We understand how people may view us at this time, when times are hard financially for a lot of people.
"But football sometimes bucks that trend, almost always, certainly at the top level."
Hughes also rejected suggestions City had paid over the odds for Tevez.
"I think in this current age, and given some of the other transfers this summer, notably Ronaldo to Real Madrid, Carlos will prove a bargain," he said.
Hughes cannot wait for the new season to get started.
The August 15 trip to his old club Blackburn cannot come quickly enough as the football world, and City's long-suffering fans in particular, wait to discover whether England's big-spenders can match the hype surrounding them.
"I know I am a little bit deadpan at times but I do get excited," smiled Hughes.
"This is probably the first season when, after a break, I have been really looking forward to getting back.
"You feel a little bit drained after a long hard season and usually wish you could have a couple more weeks but myself and all my staff couldn't wait to get back and get stuck in again."
Little wonder either given the players Hughes will have at his disposal.
But, in all probability, there will be more new faces but before defensive reinforcements have been brought in, skipper Richard Dunne is also being linked with Sunderland.
However, as he landed in South Africa at the start of a three-match tour, Hughes dismissed suggestions he was about to offload his captain.
"There has been interest in Richard which is to be expected because he is a good player," Hughes told the club's official website.
"But I have spoken to him already and it is not something on which we are going to dwell.
"We are looking to strengthen all areas and people make assumptions that maybe players we are after will have an effect on those who are already here.
"But we want to make sure the squad is stronger than it was last season."