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For starters, I think Manchester City are very much beatable at the moment based on the fact that they are rebuilding their team and some big names have left the club who we all considered instrumental to their success, but with them leaving this could be their only weakest team!
I disagree with you. Manchester City is still favourite to win the league because Pep has an almost unchanged squad. Gundogan is the player whose absence would be greatly missed, he was their captain and was carrying the team on his shoulders in every games. Another player being rumoured to leave is Mahrez. He's been restricted to the bench, and sometimes when he comes in he produces something spectacular but I don't really see how his departure would affect the team. Pep is also recruiting good players to strengthen the team like the acquisition of Kovacic from Chelsea and Josko Gvardiol from Leipzig, so they still pose a threat to other teams.
Looks like Guendongan is still in the negotiation stage, because it is rumored that he will leave City, Pep is still taking a more approach to maintaining Guendong, however he is a player who made a big contribution to the glory of Manchester City last season. Maybe it is true that Mahrez could leave the city, because he receives an offer from Saudi Arabia, including maybe Bernardo Silva who continues to be targeted by PSG to this day, PSG really wants him to be able to join them in the French league, indeed these players are quite good and we know how they have a big contribution very good with Manchester City, even though today Pep has new players like Kovacic and Gvardiol, Pep has to turn his head because there is quite a lot to prepare, even though he is still the favorite team, but that will change if another team is able to beat Manchester City with dominate it.