Football administrator Brian Marwood has hit back at critics of Manchester City's transfer spending this summer.

City's record-breaking £120 spending spree, which has brought the likes of Mario Balotelli, James Milner, Jerome Boateng, Aleksander Kolarov, Yaya Toure and David Silva to Eastlands, has been criticised in some quarters.

Manchester United boss Sir Alex Ferguson appeared to be one high-profile critic after hitting out at the 'kamikaze' spending of some unnamed clubs in recent seasons.

However, Marwood has issued a staunch defence of his club, which is backed by billionaire owners based in Abu Dhabi.

"A lot of people are misinformed, they form opinions without knowing the true facts," he said.

"It's become laughable, some of the comments about our football club.

"We are comfortable in terms of what we set out to do and the direction we are heading.

"We are extremely fortunate to have owners who invest in the club, in all areas. It's for the future.

"Eighteen months ago we were fighting a relegation battle but our ambition is to be playing in the Champions League.

"People here know what is going on, they know the direction we are heading in.

"We have fast-tracked the investment. What normally takes five or 10 years we have done much sooner.

"Nobody condemned United or Chelsea when they spent money."Subscribe to Football FanCast News Headlines by Email