La Liga president has written to UEFA to ask for an investigation into whether Manchester City have broken financial fair play rules.
European football's governing body is already investigating if Paris St-Germain have broken the rules, designed to stop clubs from 'financial doping'.
La Liga president Javier Tebas said City and PSG's "funding by state-aid distorts European competitions and creates an inflationary spiral that is irreparably harming the football industry".
City and PSG spent hundreds of millions of pounds on new players this summer.
PSG have been owned by the Gulf state of Qatar, via its Qatar Sports Investments fund, since 2011.
They more than doubled the world record transfer fee when they spent 222m euros (£200m) to sign Neymar last month, before adding Kylian Mbappe on loan from Monaco, a deal that is expected to be made permanent for £165.7m in 2018.
Manchester City's summer spend of £215m was the biggest by any club in any transfer window.
The Premier League club was bought by The Abu Dhabi United Group in 2008.
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