Sven-Göran Eriksson was close to taking Manchester City’s summer spending to almost £40 million last night as the club’s transformation under the former England head coach gathered momentum. On a frenetic day of transfer activity, Eriksson was hoping to make four signings, with Valeri Bojinov, the Fiorentina and Bulgaria striker, and Javi Garrido, the Real Sociedad defender, expected to sign for £5.75 million and £2 million respectively today.

They could be followed in the next 48 hours by the £7 million arrival of Vedran Corluka, the Croatia defender, from Dynamo Zagreb and Elano, the Brazil and Shakhtar Donetsk winger, for £7.5 million as Eriksson continues to shun players from within the Barclays Premier League in favour of little-known exotic names. “There could be two, maybe three new faces, ” Eriksson said last night.

Having committed £15.7 million to sign Rolando Bianchi, Martin Petrov and Gelson Fernandes, as well as Geovanni on a free transfer, the deals would take Eriksson’s spending to £38 million compared with the £58 million that Manchester United have spent on better-known players. With Liverpool splashing out almost £43 million, City are the third biggest spenders in the Premier League.

But while City supporters will be pleased to see that Thaksin Shina-watra, the new owner, has lived up to his promise to provide substantial transfer funds for Eriksson after his £81.6 million takeover of the club, questions are being asked of the Swede’s decision to restructure a team around young players without experience of English football and of whom many will never have heard.

With the start of the season ten days away, it is a risky strategy, although one that Eriksson is convinced will pay off, if not in the short-term, when City can expect a tough start to the campaign, then in the long run.

Bojinov and Garrido are expected to have medicals at City’s Carrington training headquarters today and could make their debuts in a friendly at home to Valencia on Saturday.

Garrido’s arrival from Sociedad, where Chris Coleman, the former Fulham manager, is in charge, will probably mean the end of Eriksson’s interest in Giorgio Chiellini, the £8 million-rated Juventus and Italy Under21 full back. Garrido, 22, is comfortable at left back but can also play in midfield.

There were suggestions last night that Eriksson has offered £4 million plus Darius Vassell, the striker, for Leighton Baines, although the Wigan Athletic left back is known to want a move to Everton, while City have opened negotiations with Micah Rich-ards, the 19-year-old England defender, about a lucrative new contract.

Bojinov has had an indifferent career, but Eriksson is confident he can bring the best out of the 21-year-old, who rose to prominence at Lecce but spent last season on loan at Juventus after a difficult spell at Fiorentina. Whether Bianchi and Bojinov are any more successful than Georgios Samaras, who has failed to live up to his £6 million price tag, remains to be seen. The Greece striker is expected to join Lens or Rennes in France.

Corluka’s arrival will effectively signal the end of the City careers of Matthew Mills and Danny Mills. Corluka, 21, who is comfortable at full back or in central defence and who was part of the Croatia team that beat England 2-0 in a Euro 2008 qualifying match last October, is expected to sign a five-year contract.

Elano, who impressed for Brazil in the Copa America last month and can play on either wing, should become Eriksson’s eighth signing, although it remains to be seen if there will be any more arrivals after that.