Champions Manchester City reveal $193 million losses
Published on Dec 15, 2012 6:27 AM
LONDON (AFP) - Manchester City revealed they made an annual loss of £97.9 million (S$192.9 million) during their Premier League title-winning season.
While the figure would represent a massive problem for most clubs, it was actually a significant improvement for the big-spending Eastlands outfit, who lost £197.5 million 12 months ago.
City's turnover last season was £231.1 million, the highest in the club's history, and although the failure of Roberto Mancini's team to progress from the Champions League group stage for the last two years has had an impact on turnover, the club's Abu Dhabi-based owners are still happy with the financial performance.
And they are confident even the huge losses confirmed will not have an impact on their ability to meet Uefa's strict Financial Fair Play guidelines as £15 million comes from infrastructure and youth development costs.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!