The 2016/17 Absa Premiership Player of the Season on Wednesday was unveiled as a Glamour Boy after spending only one season in Turkey with Konyaspor.
Manyama, 27, had a previous opportunity to link up with Chiefs in 2014 but landed up going to Matsatsantsa from Ajax Cape Town.
"I'm very happy for him you know," Phiri tells KickOff.com.
"He must play, I was getting worried that he is not playing. So I'm very happy for him that now he will start playing, doing what he knows best.
"Even the last time it was a good time, it's not like we were saying it was not a good time, but the offer Supersport put forward was much better than the Chiefs one.
"At the end of the day he is a soccer player, he's got 10 years to play. He has to go where the money is. He's been ready, it's not like we didn't want him to go to Chiefs before, no, no, no, but the SuperSport offer ... it was too much to resist the SuperSport offer. The offer from SuperSport was good that time. It was too good to turn down."
Phiri pleads with Amakhosi fans not to put too much pressure on Manyama as the forward will first need to adjust to his new environment.
"I don't know if uzalivusa ikhosi (lift Chiefs), you know how football is. You will say uzalivusa ikhosi only for him not to click there, you see. So let's wait and see what's gonna happen, because we mustn't jump the gun and say he will perform or not.
"He didn't have a pre-season and they will want to play him quick because of the excitement of the players, supporters and the club. And he hasn't done a pre-season so it's difficult to judge. Let's give him time to settle, get used to formations, things like that.
"I can't give advice, I'm done playing football. I can't give advice (laughs), I would be lying. You know what, you see a move you can't say it's a good one or bad one because you find a player coming from another team and click, it becomes a good move. Go to another team and not click or struggle.
"Let's say for instance what happened to [George] Maluleka. He was a brilliant player at Ajax where they were playing together, and then when he got to Chiefs he didn't give the performance he had at Ajax.
"Some jerseys are heavy, but hopefully it won't be heavy for him. So many players move from their teams only to find out that the expectations are too much. So let's hope he will be one of the best signings.
"They (fans) must give him a chance to settle down because he didn't do pre-season. But he comes with a big reputation, so they must not start with too much expectations, they must give him time to settle down."