The Premier League champions have made five summer signings - including Frank Lampard and Bacary Sagna - and now need to sell
Willy Caballero, Bacary Sagna, Fernando, Frank Lampard and Bruno Zuculini have all arrived at the Etihad during the close-season and Pellegrini admits he is unlikely to make any further signings this summer.
However, the likes of John Guidetti and Scott Sinclair are set to be allowed to leave, with Pellegrini admitting that his squad is still too bloated.
“It's [transfer window] not finished, until the last day we can do different things,” the Chilean told reporters.
“But if you ask me at this moment if I am happy with the squad, yes I am very happy with my squad.
“We had a lot of problems also with Financial Fair Play with the restriction of the amount of players we can put in our squad.
“So maybe I don’t think that we are going to sign another player because we cannot do it.
“We have maybe too many players in the squad at this moment, players that need to play, that’s very important, especially for young players.
“John Guidetti or maybe Scott Sinclair, they may need to play in a different team, so we’ll see from now until the end of the transfer window what happens with our squad.”
Guidetti and Sinclair have struggled to break into the City first-team in recent seasons. The former spent part of last term on loan at Stoke City while Sinclair had a short-term spell at West Brom.