Welcome to Manchester Confidential
Reset Password
The Confidential websites will be undergoing routine updates. This may cause the sites to go offline. We apologise in advance for any inconvenience.

You are here: Manchester ConfidentialNews.

Man City racks up record £121m loss

Wages outweigh turnover as Blues chase glory

Published on October 1st 2010.


Man City racks up record £121m loss

Manchester City Football Club has announced record losses of £121.3m for the year to May 31 2010 – the second highest in Premiership history.

The club’s latest annual report shows that its wage bill came to £133.3m, which was higher than its turnover of £125m. Revenues had increased from £87m the previous year, however.

The club, owned by Sheikh Mansour bin Zayed Al Nahyan, sold more season tickets than the prevous year and also recorded a 400 per cent increase in sponsorship dealsIt has spent £96.6m on transfers since May, bringing in players such as James Milner, Mario Balotelli and Yaya Toure.

Chief Executive Garry Cook said the club’s attitude to transfer fees would change in the future. "It is safe to say that player acquisitions on the scale we have seen in recent transfer windows will no longer be required in the years ahead now that we have such a deep and competitive squad," he said.

The club spent £1.5m developing the stadium and the training ground. It also sold 12,000 scarves similar to that worn by boss Roberto Mancini, at £8 a time.

Sheikh Mansour and the Abu Dhabi United Group said in a statement on the club’s website: "Two years ago I was fortunate enough to become part of the Manchester City story and I remain grateful for the warmth of the welcome that you have given me.

"The ownership of a club like Manchester City, with such a rich heritage and diverse community of stakeholders, carries a unique set of obligations to the fans, staff and broader Manchester community. This is something I do not take lightly.

"Therefore the challenge I set my board and executive leadership team is to develop City so that it is one of the most successful clubs both on and off the pitch, but to do so without losing any of the characteristics that make it so special."

Like what you see? Enter your email to sign up for our newsletters which are chock-a-block with more great reviews, news, deals and savings.

AnonymousOctober 1st 2010.

If Sheikh Mansour isn't concerend by this loss why should anyone else be?

It's a bit of a non story really. Man spends money he can afford to spend on what he wants to spend it on. Big deal.

Business LinkOctober 2nd 2010.

Noone should worry about the sheiks, all they do is burn their fortune on stuff that isn't really worth anything. Worry about the Chinese, they will 'take over' properly... this is a compliment, btw

To post this comment, you need to login.Please complete your login information.
OR CREATE AN ACCOUNT HERE..
Or you can login using Facebook.

Latest Rants

Anonymous

Repeating,without any evidence the same point that socialism = public services is hardly…

 Read more
Anonymous

You absolutely right,I hate all these bloody nimbys stopping development and progress.Of course if…

 Read more
Anonymous

Manchester's size and climate isn't dissimilar to Rotterdam or Dusseldorf but the city is held back…

 Read more
Anonymous

Straying off the point again David, which is that investing in public services is socialist but as…

 Read more

Explore The Site

© Mark Garner t/a Confidential Direct 2017

Privacy | Careers | Website by: Planet Code | SEO by The eWord