Mateo Kovacic is the only signing made by Man City so far.
The Croatian midfielder spent the last five years at Stamford Bridge winning the Champions League and making 221 appearances for the club.
The former Real Madrid midfielder penned a four-year contract with the Cityzens and was brought in to replace Ilkay Gundogan who joined Barcelona on a free transfer this summer.
Man City paid £30m for his services as Kovacic entered the final year of his Chelsea contract.
Ferdinand said: “Man City, Kovacic is a great signing. Obviously they’ve lost Gundogan, the captain, but I think Kovacic is a shrewd signing, at that price as well.
“I think he was £30m and in the current market, that’s huge business, great business. He’s full of experience, won the biggest trophies, and a different player to what they have got in that area.
“He can travel with the ball through the lines, so I think he’s a good signing. I think they’ll go again, City, somewhere else [in the squad].”
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