Antonio Conte and Pep Guardiola (right) both arrived in the Premier League this summer
Conte joined Chelsea and spent over £100million net on new players.
City, meanwhile, appointed Pep Guardiola as their new boss on a three-year contract and handed the Spaniard £141m net to spend on new signings.
Chelsea sit 10 points at the top of the Premier League, while City laboured over Christmas after a blistering start and are fifth, 11 points off the Blues.
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Antonio Conte – 150/1
And Keown believes Conte's system fits the Premier League, while Guardiola needs more time to perfect City's game.
"Conte wants to play three at the back, that's his system," Keown told talkSPORT.
"He understands that system really well, with two midfielders in (Nemanja) Matic and (N'Golo) Kante sat in front and very often it becomes a back five.
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"Up front there's Pedro, Hazard and Costa – that quality. It's a nice balance.
"Contrast with Guardiola who is the artist and wants to create pretty patterns. That'll take longer to develop.
"Chelsea are running a different race here. Their manager is relentless, he was incredible at Juve. He knows his system and he's like their 12th man.
"Next season with be very interesting to see how City react."
Keown says Chelsea have a system that works perfectly
Manchester City are fifth in the Premier League
There are just two points between second and sixth in the Premier League, with four Champions League spaces up for grabs.
Manchester United are back on form, as are City. Arsenal stopped short a two-game losing streak with a 2-0 win over Hull on Saturday, while Liverpool got their first league win of 2017 with victory over second-place Tottenham.
And Keown believes the Premier League big boys are already shaping up for a title challenge next season.
"It's a concertina effect at the top of the table," he added.
"Tottenham I was disappointed with at the weekend.
"And we go into the Arsene Wenger discussion every year and they still get into the Champions League every year.
"Manchester United are getting there quickly and Mourinho is getting it right there."