The Manchester United legend was the subject of an X-rated chant by the Citizens supporters when speaking to the England international after the 1-1 draw against Real Madrid.
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Kevin De Bruyne's stunning second half strike levelled up the game after Vinicius Jr's rocket in the Champions League semi-final first leg.
Grealish praised his side's display at the Bernabeu in his post-match interview with BT Sport, which took place on the pitch as the City fans looked on and chanted 'Super Jack Grealish' from the stands.
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Moments later they could be heard loudly singing, 'Rio Ferdinand is a w*****'.
Ferdinand may have infuriated the City faithful after he celebrated wildly to Los Blancos' opener in the Spanish capital.
Despite his obvious hatred for United's arch-rivals, Ferdinand was effusive in his praise for Pep Guardiola's side.
He remarked: "This City team, the way they performed in terms of character, the bravery to take the ball the way they did.
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"I think that was a phenomenal stance.
"And for the first game, I think they can come away from this with their heads held high."
After the abusive chants died down, Grealish told BT Sport: "You can have a few nerves but these are the nights you play football for and dream of.
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"At a stadium and a game like this, it's like a dream come true."
On last season's semi-final defeat by Real: "We have a new team this year, different players. It's a year ago. We've learned so much since last year.
"We have the perfect balance of experience and world-class youngsters. I've never felt so confident going onto the pitch having the players around me.
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"It's difficult. They let us have the first pass a few times and then had a high press. Playing against Dani Carvajal, I can't count the amount of people who told me before you don't know what it's going to be like.
"Good battle, I really enjoyed it. I am tired. I've never had cramp before but I had it both calves.
"We've all seen games where they've conceded a few goals but tonight they defended really well. I thought we're only going to score from a shot on the edge of the box. When it fell to Kevin, it was unbelievable. We see it every day in training. You wouldn't choose anyone else for it to fall to.
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"At the Etihad, we feel unstoppable there. We came here to try to win, but it shows our character to go a goal down in a place like this. In the end I think it was a fair result. They had their chances, we had a few.
"I really enjoyed it.
"I had a text from my mum before the game saying these are the nighs you dreamed of as a kid. Everyone in the world was watching. Sometimes you pinch yourself. This is the life, innit."