Pearce was in charge at Man City for just over two years

Pearce was sacked as City boss on Monday after two years in charge.

"The previous manager had around �50m to spend and if the club is taken over the next manager may have �50m," Pearce told the Manchester Evening News.

"In that sense I feel I have been a caretaker with no money to spend, getting the books balanced while keeping them in the Premiership."

Pearce succeeded Kevin Keegan in March 2005 and the club only missed out on a Uefa Cup place after an injury-time Robbie Fowler penalty miss against Middlesbrough that season.

I feel City are not far away from becoming the top six side Stuart Pearce

City's decision to dispense with their manager came at the end of a season where the Eastlands outfit set a new all-time low for the number of home goals scored in a top-flight campaign, with a total of 10.

Pearce was given the news of his dismissal in a brief telephone call from chief executive Alistair Mackintosh.

But the former England captain said his dismissal did not come as a surprise.

He added: "Losing your job is all part of football management and I knew it would have to happen one day.

"I wasn't taken aback, shocked or angered by the board's decision. I am not naive or stupid.

606: DEBATE Pearce is an honest man and is worthy of respect MM

"I felt we were going in the correct direction but needed some finance to drive the club forward.

"But I do not regret taking the job. I feel City are not far away from becoming the top-six side they want to be and nothing would give me greater pleasure than this time next year to see Richard Dunne climbing the steps at Wembley to lift a major domestic trophy or the side to qualify for Europe."