Phoney Pep the winner!

THE PHONEY war’s over – Manchester City won it.

Three rounds of Premier League results are in, the transfer window’s shut, the player cards are all turned face-up on the table...

And the betting markets say Pep Guardiola’s now about 25 per cent MORE LIKELY to land the League title than he was before a ball was even kicked.

A gross summer spend of £215million plus three wonkyish performances... and City’s title odds go from 15/8 at the beginning of August to 11/8 now.

That price says Pep now has a 42 per cent chance of wearing the crown, up from 34%. Amazing.

Key losers in the phoney war? Chelsea (now 11/2 for title, were 7/2; gross spend £192m), Spurs (14/1, were 10; £88m) and Arsenal (25/1, were 12; £46.5m). It’s ‘as you were’ 12/1 Liverpool (£80m).

Add your pinch of salt here because, of course, bookmakers’ existing liabilities are the big shapers of current and future prices. They can’t just start again, as fresh evidence emerges.

Punters can. We now know Jose Mourinho spent £146m well, got nine points, 10 goals and three clean sheets — and his United (9/4, were 7/2) look a more genuine force than they have in years. I reckon ‘Spurs NOT to finish top four’ at Evens (Hills) is now the real ‘post-war’ value. Charge!

Last week: Winner at 11/10