Madrid's big outlay followed their 2009 spending spree, which included bringing in the likes of
Cristiano Ronaldo (£80m),
Kaka and Karim Benzema for a combined total of more than £170m.
City have the spending power to match the Spanish giants and, as Mancini plans an assault on European glory, he is pleased with how his side have dealt with the pressures of the Premier League this season.
He says City - top-flight champions for the first time since 1968 - are worthy winners of the title, pointing out that, unlike close rivals Manchester United, they were never beaten heavily by anyone.
"We lost 1-0, 1-0, 1-0 - always games we could win," he said. "Manchester United lost 3-0 to Newcastle and 6-1 against us, but we never had a game like this.
"Against United in the FA Cup,
when we lost 3-2 at home,
in the second half [it was] 11 players against 10, but we had three or four chances and they did not have any."
Noting also that City had beaten their neighbours home and away in the league, he added: "We worked very hard. We deserved to win this."
And he says that, even when City fell eight points behind leaders United with just six games remaining, from which point on he repeatedly insisted in public that the title race was over, he never entirely lost hope.
"After [losing to] Arsenal,
I thought it was going to be difficult - but I thought it was impossible that United were going to continue to win," he said.
In an exclusive BBC interview, the 47-year-old reflects on a title-winning season not without its share of troubles, but insists his relationship with strikers Carlos Tevez and Mario Balotelli remains good.
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.