Incoming Manchester City manager and current Bayern Munich head coach Pep Guardiola is reportedly set on spending the £150 million budget to acquire their top three targets in the summer, which are rumored to be Barcelona's Luis Suárez, Chelsea's John Stones, and Bayern's Manuel Neuer.

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ESPN reported that Suárez, Stones, and Neuer spearhead Guardiola's dream signings after the 45-year-old Spanish bench tactician was given a £150 million warchest to spend on new players this summer.

The report also mentioned that Guardiola cautioned the Etihad officials that his team will not be able to win the Champions League in his first year as head coach as he "will need time to implement his ideals and philosophies" on the players.

It was said that Guardiola is targeting to form a team that could be included as one of the world's top five squads as the first stage of his three-year mission to make City an elite club.

Aside from the trio mentioned above, Guardiola is also said to be interested in Bayern striker Robert Lewandowski and Barcelona midfielder Sergio Busquets.

The Citizens' Chief Executive Officer Ferran Soriano said that his countryman head coach will be provided with all the resources to overhaul the team, but that the £150 million will only be used to acquire "three superstar players", as per the Mirror.

The report went on to say that a source disclosed that "Soriano made it clear that City did not want to buy a load of players. He said they would be focusing on signing just three world-class players".

It was also said that Soriano wants the "new City" to be founded on "skillful ball-players, as Guardiola tries to move the squad away from its reliance on the physical power of long-time talismans Yaya Toure and Vincent Kompany".

"Soriano talked about the team reflecting what he intends to be the status of the club - as one of a handful that remain within a world elite," the source said. "Winning the Champions League next year is not a specific target."

"If it happened for Guardiola, then great. But his objective will be to move the team forward in terms of playing style - a style they feel can eventually bring success along the model of Barcelona," the source added.

TagsFootball News & Rumors, Pep Guardiola, Manchester City, luis suarez, John Stones, Manuel Neuer