City was taken over by billionaire Sheikh Mansour in September.
Gill said: “It would be naive to think City won’t make some moves and have some sort of impact.
“Yet while they clearly have plenty of cash, they have pulled back from saying they were going to buy this or that player for a lot of money.
“It doesn’t just boil down to money. Clearly it is important but it is how you spend it, invest with it, what you do with it, having those budgets and parameters.
“We work on the principle that we cannot afford to make a mistake.”
