According to
Transfermarkt Manchester City is the 2nd team in Premier League that spent alot in transfers after Manchester United

Probably this is not going to happen because Manchester City has signed Grealish for 100 million. I dont think they could afford to sign Kane for another 100+ million though probably on the next transfer window.
Yes, but Manchester City finished second not because of huge transfers, but because of consistently large transfers, usually not exceeding 50 million per player. In general, you are right, but judging by the news, there is still a possibility of Kane's transfer, since M'City has a transfer balance of +40 million, so if Manchester City sells two players, it will be able to afford such an expensive transfer.