(Reuters) - Manchester City manager Pep Guardiola has defended the Premier League champions' transfer spending in the wake of the British record signing of midfielder Jack Grealish, saying the club adhere to Financial Fair Play (FFP) rules.

European soccer governing body UEFA's FFP rules were introduced in 2009 to prevent clubs spending beyond their means and distorting the market, requiring teams to break even and keep wages and transfer fees in line with income.