Manchester City's dismal run of form was extended last weekend after they threw away a one-goal lead in the closing minutes to lose 2-1 at home to bitter rivals Manchester United in the Premier League.

The Citizens have now won just one, drawn two and lost eight of their last 11 games in all competitions, while no Premier League team has fewer points per game than the reigning champions (0.57) since the beginning of November, not even basement club Southampton (0.67).

It would be nonsensical to consider Man City in their current state as title challengers, as Pep Guardiola's side sit nine points behind leaders Liverpool having played a game more, while they are also at risk of failing to qualify for the knockout round of the Champions League.

For several years, Man City have been lauded for their astute business in the transfer market, signing players - some largely unknown by the majority - and developing them into world-class stars who have since won multiple major honours. However, many will argue that the Citizens have been somewhat naive in recent transfer windows.

Guardiola was deeply impressed by how his squad found the strength to secure a fourth successive Premier League title last season, a year on from winning a historic treble. He subsequently developed a strong sense of loyalty to those players and believed they could rise to the challenge once again this term.

Man City entered the current campaign with a small squad of 23 players, including only two new summer arrivals in the form of Ilkay Gundogan and Savinho, but that decision has ultimately come back to bite them as their well-documented injury crisis has played its part in the club's painful demise.

Man City rebuild incoming: Should they be active in January?

Guardiola's squad includes nine players over the age of 30 and three more ages 29. With that in mind, as well as the lack of depth in certain positions, many Man City supporters are crying out for a major rebuild.

When that takes place remains to be seen; long-serving sporting director Txiki Begiristain will pass over the baton to Sporting Lisbon's Hugo Viana next year, and he will have at least two-and-a-half years to work alongside Guardiola in reshaping his Citizens side.

While Guardiola has suggested that any major surgery to his squad is more likely to take place next summer, Man City expert Steven McInerney from Esteemed Kompany feels that the club must not rest on their laurels and must be active in January to address their current issues.

Speaking to Sports Mole, McInerney said: "The football landscape has changed. There is going to be no pre-season because of the Club World Cup (next summer), the players are going to essentially play straight through, so it makes no difference if [new players] come in January, in my opinion, or they come in July. I just don't see the difference because football is carrying on.

"I think we have to be really brutally honest and there's some really hard conversations here to be had. There's a real good chance that Rodri, when he comes back from injury, might not be the Rodri that we know for a long time, if at all.

"I'm hoping - touch wood - he'll be fine, but it's a real possibility (that he will not return as the same player) because he's 28 now, he'll be 29 when he returns and he could be in his 30s by the time he's at his very best.

McInerney: 'Man City have to start signing players now'

"When [Virgil] Van Dijk came back (for Liverpool) the season after [his injury], it was a poor season for him. It took him a whole year to find his form again and trust his body. [For Rodri], that's very possible given his age. He's not going to be 23 anymore.

"Bearing that in mind and bearing the very obvious decline of some of the players with uncertainty around a lot of them, I think City just have to start [signing new players] now because the longer these players get with Guardiola the better.

"I'd rather [new signings] have six more months with Guardiola now, because if you get to that possibility where Rodri returns and he isn't quite up to speed, you've already had a guy there for six months, who's sharpened his senses in the Manchester City side and he's up to speed, so I don't see the point in waiting.

"This isn't a situation that's going to be solved by time, it's very obvious to me that this dam has burst here a little bit and the confidence is shot and the squad isn't capable.

"You've got to look at every possibility, you've got to presume the worst because that's the only way you stop the worst from happening. When you look at the fact that there's an obvious need for a rebuild, there's the real risk of Rodri taking a long time to come back, there's a genuine risk of City missing out on the Champions League places, Pep's going to be here for another two-and-a-half-years, when you put all that together, why not just start in January if you can, because City have the money.

"I don't think it's a good idea to wait until the summer personally, because I don't think the summer is what it used to be, I think football's a 12-month calendar now, which is crazy, and I think you have to adapt to that."

What does the future hold for every current Man City player?

While incomings are seemingly a priority for Man City in January, speculation over the long-term future of some current first-team stars is rife, including the club's longest-serving player in Guardiola's current squad - Kevin De Bruyne.

Now into his 10th season at the Etihad Stadium, De Bruyne has earned legendary status at Man City, but the 33-year-old's contract is due to expire in the summer of 2025 and he has been tipped to seek pastures new either in MLS or the Saudi Pro League.

Gundogan and backup goalkeeper Scott Carson are also out of contract at the end of the season - City have the option to extend the former's deal by 12 months - while the likes of Kyle Walker, Bernardo Silva, Ederson, John Stones and Jack Grealish have been linked with exits from the Etihad.

With that in mind, McInerney sat down with Sports Mole senior reporter Oliver Thomas and assessed Guardiola's entire 23-man senior squad, sharing his thoughts on which players should stay or leave the club as part of a much-needed rebuild.

Press play on the video at the top of this article to hear the full discussion.