Manchester City have built one of the most talented squads in world football over the last decade, becoming a dominant force in modern English football.

Pep Guardiola is renowned for identifying and obtaining top emerging talent, whilst developing their skills to suit the demands of his ever-adapting tactical masterclasses that have ensured the club consistently win domestic trophies from multiple Premier League titles to FA Cups.

However, the former Barcelona boss was bound to get it wrong at some point and the signing of Leeds United midfielder Kalvin Phillips last summer has been, without a doubt, one of the rare transfer howlers at the Etihad.

Phillips captured the attention of the elite Manchester club following his influence in the defensive midfield role both at Elland Road and in the England squad during Euro 2020, with the midfielder's performances alongside Declan Rice guiding the national team to their first major final since the World Cup in 1966.

Following his success and consistency with the Three Lions, the 27-year-old was named England Men's Player of the Year in 2021, which then led to his controversial move from his boyhood club in West Yorkshire to the blue side of Manchester in a deal worth £45m just a few months later.

The rising star was expected to continue his upward trajectory upon his move, however, unlike many of his teammates, he has been unable to make an instant impact in the Man City team.

How much is Kalvin Phillips worth?

There is no doubt that Phillips boasts talent and the ability to be a huge presence in the centre of the pitch, so where did it all go wrong?

The midfielder has struggled with injury problems ever since the monumental Euros campaign with England and spent most of his final months with Leeds nursing a hamstring injury which saw him miss 16 fixtures before his move to Man City.

His short but disappointing stint with the Premier League champions so far can be attributed to his inability to get match fit for the start of the season and a nightmare shoulder injury sustained in September left him unavailable for selection over 11 fixtures too, which has ultimately led to other players stepping up and deservedly swiping his opportunities to start ever since.

Despite only averaging 14 minutes per performance over eight league appearances, Phillips - who writer Muhammed Butt claims is "struggling" - has been able to offer very little and is currently the third lowest-rated player in the entire squad at present, according to Sofaccore.

This lack of contribution combined with long-term injury struggles has seen a huge dip in the player's market value since joining Man City and he is now worth 80% less than his transfer fee, with CIES Football Observatory calculating that Phillips is worth just €10m (£9m) in the current market.

The England star has spoken out about his difficult move and, although finding it hard to adapt to his new role, doesn't regret making the move, revealing to the Premier League YouTube Channel:

"It’s been very difficult to be honest. I knew as soon as I came into the team that I wasn’t going to be playing week-in week-out."

"I was going to have to build my way in and even now I’m still at that stage of building myself into the team. I’ve enjoyed it a lot and I’ve learnt a lot as well from the players and the manager, it’s been one of the best decisions I’ve made."

With that being said, it will be interesting to see if Guardiola will persevere with getting the midfielder up to scratch so that he can be relied on to become a consistent first-team regular or whether the manager will cut his losses just 12 months into Phillips' contract by offering him out on the transfer market this summer. Either way, it's likely this transfer will be filed in the mistakes pile by the club's owners.