Manchester City have
reported annual losses of
£194.9m - the highest in the
history of English football.
The club's officials said the sum
marked a low point in their
finances and they would now be
embarking on an upward trend.
Chief operating officer Graham
Wallace said: "Our losses, which
we predicted as part of our
accelerated investment
strategy, will not be repeated
on this scale in the future."
The loss does not include City's
huge sponsorship deal with
Etihad Airlines, which is said to be
worth £35m per year over the
next decade, or revenues from
this season's Champions League
campaign.
It highlights the depth of
investment made by the club's
owner Sheikh Mansour bin
Zayed al Nahyan
, a member of the Abu Dhabi
ruling family, in turning Man City
into Premier League leaders.
Sheikh Mansour has spent over
£600m on building up Roberto
Mancini's squad in the past
three years.
The club has snapped up the
cream of the world's footballing
talent both from rival Premier
League clubs and foreign outfits.
Big names like France star Samir
Nasri, Spain's David Silva and
Argentinian Sergio Aguero have
powered them to the pinnacle of
the domestic league.
Mancini has closed the door on
the possibility of Tevez returning
to the club
The financial results follow the
announcement that Adam
Johnson and Pablo Zabaleta have
signed new contracts, until 2016
and 2015 respectively, with the
club.
The results will not fall under
Uefa's financial fair play rules,
which come into effect in 2013.
They aim to stop reckless
spending on wages and transfer
fees, and require clubs to break
even over three years.
The club has pointed out its
commercial revenue has risen by
nearly 50% to £48.5m and
television rights have increased
by more than a quarter to
£68.8m.
Chairman Khaldoon al Mubarak
said: "With our best-ever result
in the Premier League,
qualification for the Uefa
Champions League, and an
historic FA Cup campaign that
delivered the club its first piece
of major silverware in 35 years,
there is much to be proud of."
Meanwhile, Mancini has said that
Carlos Tevez's decision to
return to Argentina without
permission has ended any hope
of the striker playing for the
club again.
City found Tevez guilty of five
breaches of contract for
refusing to warm up in a
Champions League match against
Bayern Munich in September.
He was suspended for two
weeks and had a fine of four
weeks' salary halved after the
intervention of the PFA.
But it seems Mancini's patience
has now run out.
"We can't continue to talk about
Carlos," he told reporters.
When asked whether there was
any way back for the Argentine,
Mancini answered: "No, I don't
think (so)."
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That is a huge loss, They must know how to manage their resources properly,

They have overutilize their resources

They have a huge financial backing else, they would have gone under.

gbengress1:

They have overutilize their resources

Possible, Brazil has a good economy though, Just forget the corruption issues from different institutions,

they hav d money

Sebi, they recorded the biggest victory against Man. United, they are recording BIGGEST in everything!