City reveal financial results

Manchester City halved their losses for a second consecutive year and the club expects to break even as early as next season.

Last Updated: 29/01/14 at 18:22 Post Comment

Manchester City: Have slashed their losses in recent seasons

Manchester City: Have slashed their losses in recent seasons

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

City have posted improved results in recent years and recorded a £51.6million loss last season, down from £97.9million in 2012 and £197.5million the previous season.

Turnover was a record high of £271million, up from £231million, and is the second-highest in the Premier League.

City also paid off all their debts, which totalled £58million a year ago, and the club's chief executive Ferran Soriano admits significant strides have been taken in cutting losses and boosting turnover.

"Growing revenues and controlled expenses are bringing the club to break-even in the immediate future and profitability thereafter," he said.

City will receive extra income this season, including around £25million extra from the new Premier League TV deals, while they earned financial reward after reaching the Champions League knockout stages.

The club must comply with UEFA's financial fair play rules and hope to be within the 45million euro limit of losses once the money spent on facilities and youth development are taken into account.

In the club's annual report, City chairman Khaldoon Al Mubarak said winning

trophies was the key to the club's strategy.

He said: "We have every reason to be optimistic. The core group of players we have assembled in recent years has shown that it has what it takes to prevail in the most challenging of circumstances.

"With the arrival of Manuel Pellegrini and the further strengthening of our squad, Manchester City has entered the 2013-14 season with a renewed sense of confidence for the future.

"The club has made no secret of the fact that winning championships is at the heart of its strategy. However, we are also seeking to create teams that play creative, entertaining football, and at the same time to continue to build a socially responsible and commercially successful off-field operation to harness the opportunities generated by our on-pitch performance."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

D

on't go to England at your age, you'll either be mugged or not appreciated. Or made to lump the ball long to a bloke who looks like a mascot.

megabrow (cufc)
Beckenbauer warns Schweinsteiger

F

rom the headline I presumed he meant boots, pants, jim-jams, toothbrush and paste, passport, tickets, premier inn long-term package, Scouse-English-Portuguese-German dictionary, 'How to be a 9 and 3/4' by B. Rodgers, few dozen tins of food and Evian because you can never be sure about the local food/water...

KevinBoatang
Firmino has 'everything' for PL - Willian

H

e looked like he was playing with a plastic pound shop ball in the wind against Juve, his passing was so bad.

paddy7s
Sergio Ramos: Exactly What United Need

Footer 365

Dani Osvaldo leaves Southampton two years early

Southampton have terminated the contract of record signing Dani Osvaldo.

Slaven Bilic missing from West Ham bench for Europa League opener

Academy manager Terry Westley will be in charge when West Ham make their Europa League debut against Andorran side FC Lusitans.

Matej Vydra joins Watford on five-year deal after two loan spells

Striker Matej Vydra is back with Watford, this time on a permanent basis after signing a five-year deal to join the club from Udinese.

Mail Box

Are United Aiming Too High On Transfers?

One mailer wonders whether United are aiming a little high on their transfer ambitions. Plus, BAHs, West Ham in Europe, petty annoyances and Michu to United...

Liverpool Are Attractive To Strikers

You've got little competition and bags of service from midfield, so surely strikers would love to join Liverpool? Plus England's future, Callum Wilson handshakes and...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company