Not sure about City. But our case certainly different than PSG, even if we spent the same amount as Neymar release clause (which we haven't yet), we have sell tons of players, got new sponsor, prize money from winning the league, etc.
We are okay to spent that amount, while obviously PSG are not okay to spent that much, without selling. Hence UEFA will launch an investigation for it. FFP is real and isn't a joke. Once again our condition are totally different than PSG.