Vincent Kompany
Manchester City's captain Vincent Kompany celebrates after winning the English Premier League title.Reuters

Premier League champions Manchester City's hierarchy will reportedly meet in Abu Dhabi to plan out their strategy on transfers and contract renewals for the upcoming season, according to

City clinched their second consecutive title in three years, after registering a 2-0 win over West Ham United at Etihad in their final Premier League fixture of the 2013/14 season.

The Citizens, who paraded around Manchester after winning the Premier League title, will be flying to the United Arab Emirates' capital for a post-season tour, which will consist of a few friendly games against some local teams.

Shortly after that, there will be a meeting between manager Manuel Pellegrini and the club's senior figures - Ferran Soriano (CEO), Txiki Begiristain (Director of Football), Khaldoon Al Mubarak (Chairman) and Sheikh Mansour (owner) - to discuss the Citizens' strategy for the new season.

The main point of discussion will probably be their transfer strategy, especially in light of them being found guilty of breaching UEFA's Financial Fair Play rule.

The reported moves for Porto duo Eliaquim Mangala and Fernando, along with Athletic Bilbao forward Iker Muniain, will probably be made only after UEFA decides on their punishment for the aforementioned offence.

City, who have till 16 May to reach a settlement with the European football governing body, may be slapped with a £50m fine, along with a reduced wage budget and Champions League squad if UEFA decide on an extreme fine. However, the Citizens are reportedly ready to take their appeal to UEFA's independent adjudicatory panel.

This means City's summer transfer plans will definitely be on standby till the whole FFP issue is resolved. The contract extensions of some of City's star players, including Sergio Aguero, David Silva and Edin Dzeko, will also probably be postponed till the matter is sorted out.

This is mainly because contract extensions will mean an increase in the players' salary and if City are forced to reduce their wage budget by UEFA, they will not be able to bring in new players in the summer.

This will be a big blow to City as their success in recent times was due to the influx of money from their rich Middle Eastern owners.