Manchester City are open to waiting until the end of August to land a new midfielder but Pep Guardiola claimed that the Premier League champions will refuse to be held to ransom.

Julian Alvarez is on the verge of completing a switch to Atletico Madrid, worth up to £82million, and his imminent departure has left an available slot in Guardiola’s thin squad.

But with a wealth of talent in attacking areas, City’s need is for a more defensively able midfielder capable of supplementing Rodri and options are scarce.

Mateo Kovacic is likely to fill Rodri’s spot in midfield for Saturday’s Community Shield against Manchester United, with the Spain international and the England contingent expected back in training early next week after a post-Euros break.

‘Yeah, we will see,’ Guardiola said. ‘If we need someone the price we have to buy [has to be right] otherwise it makes no sense.

Pep Guardiola has revealed that he wants a player who can supplement Rodri at Man City

He is not concerned with how much Man United or Arsenal have spent (Leny Yoro pictured)

‘We will see the chances at the end of the market, if a club needs to sell more than now for example, so I don’t know.

‘Maybe a holding midfielder who can play central defender or a central defender who can play in the position of Rodri.’

Asked if there were any concerns at the spending of Arsenal and United in their quest to strengthen ahead of the new season, Guardiola added: ‘For many years [they] have done it. Many years. But it’s not news. It’s just when City spends more.

‘Many players didn’t come because the club didn’t pay what the other club wanted for that player. The club will continue to do what is fair.

‘This season is more about the desire to be a better player – not to win another Premier League because most have already won lots. I think their motivation cannot be that, so it’s about how you improve as a player.’

Guardiola confirmed that Ederson will start in goal at Wembley after a move to Al-Ittihad fell through last month, while Kalvin Phillips was utilised as a central defender during the pre-season tour of the United States.

‘Kalvin is a central midfielder but he likes to see all the game in front of him when he is in the middle,’ the City boss added.

‘Surrounded by players, he struggles a little bit. But he helped us a lot in the last couple of games on tour. I should have seen that before. His confidence is back.