Manchester City Transfer News: Latest Leonardo Bonucci, Hector Bellerin Rumours

Manchester City manager Pep Guardiola is preparing a "January overhaul" of his squad and wants to upgrade his defence with the big-money transfers of Leonardo Bonucci of Juventus and Arsenal starlet Hector Bellerin.

Dave Fraser of the Sun reported the Spanish coaching genius has set aside £150 million to capture the pair, along with Borussia Dortmund superstar Pierre-Emerick Aubameyang.

Guardiola has already spent £175 million since arriving from Bayern Munich, but he requires further reinforcements as he reshapes the City starting XI.

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According to Fraser, the "lack of depth in the heart of defence" has prompted the former Barcelona boss to consider an approach for Bonucci, and he is prepared to battle the Gunners for Spain international Bellerin.

Vincent Kompany's regular visits to the treatment table have left City short of cover and leadership in a key position. As noted by football journalist Kristof Terreur prior to the recent game at Swansea City, Kompany has rarely featured for the Sky Blues of late:

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Bonucci appeared 34 times in Serie A for Juve last term, according to WhoScored.com, as the club once again were crowned champions of Italy, and the player has been a major influence for the Old Lady in the UEFA Champions League.

According to the Sun's Martin Blackburn, the defender recently said he's considered playing for Guardiola, but he opted to remain with his club this season.

“I did give it some thought. Guardiola’s insistence destabilised me a little." said Bonucci. "I did not speak to Pep directly, it was just an exchange of thoughts with my agent. It was tempting, but I decided to follow my heart in the end.”

Bellerin has been a breakout star in English football over the past 12 months, and his high-octane style and speed will appeal to the Sky Blues.

Squawka Football highlighted Bellerin's form at the end of last season as he claimed a regular spot in Arsene Wenger's side:

Bellerin is a youth product of Barca's famed La Masia setup, and Guardiola will know about his potential and grounding in the game.

Arsenal have trusted the talent to blossom in their team, and he has proved he should become one of Europe's elite full-backs.

The temptation to play under Guardiola might prove too much for the Catalan-born defender, but Wenger is sure to fight tooth and nail to retain the Spaniard.

Bonucci would provide an instant fix for City as they balance their star-studded contingent, and he would give the manager an experienced head who would complement Kompany if the captain finds his best fitness once again.