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Man City’s £133m wage bill

Players earn more than club turns over as Cook promises end to heavy spending

Published on March 1st 2011.


Man City’s £133m wage bill

Manchester City’s wage bill exceeded its turnover last year but the club has promised an end to inflated transfer fees.

"The scale of the club's recent investment in the transfer market is unlikely to be repeated in the near future now that the playing squad is of a sufficient quality and depth to be competitive in both England and Europe.”

The Blues paid players an eye-watering £133m in total, against a turnover of £125m. The club rack a pre-tax loss of £121.3m for the year to May 31 2010, up 31 per cent from the previous year.

Since that time, the club has spent a net £127m on players. But chief executive Garry Cook said in the notes to the accounts: : "As the club continues to assess the level of investment required to compete at the highest level, it does so whilst pro-actively engaging with all relevant stakeholders involved in the evolving debate around how to create greater commercial sustainability within football clubs.

"It is also fair to say that the scale of the club's recent investment in the transfer market is unlikely to be repeated in the near future now that the playing squad is of a sufficient quality and depth to be competitive in both England and Europe.

“This will reduce the impact of player transfers and salary costs on financial performance in the years ahead."

The club will have to cut its cloth in future, to comply with financial fair play rules being introduced across Europe. Clubs will be only be allowed up to £34.7m in losses in the first monitoring period of 2011/12 and 2012/13, and look to break even over the next six years. The punishment is a ban from European competitions, which form a major part of City’s owners’ ambitions.

Income from corporate sponsorships increased 400 per cent to £32.4m; ticket sales grew 18.6 per cent to £18.2m; television money rose by £5.7m to £54m and matchday hospitality increased by £700,000 to £6.1m.

Its retail and merchandise division grew turnover by 60 per cent to £7.9m.

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