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

Bet £10 Get £30

Daily Offers And Promotions. Join Now & Bet £10 and Get a £30 Free Bet

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."

Bet £10 Get £30

Daily Offers And Promotions. Join Now & Bet £10 and Get a £30 Free Bet

Related News

Most Commented

Readers' Comments

H

ow are people still backing Arsenal for the title? It's like you're predicting the tide not to come in; Arsenal will finish third or fourth and make the quarter final of the Champions League. It was ever thus.

thefuldutch
F365's Season Predictions

N

othing screams 'Panic!!' when your new manager brings Fellaini on as a sub for your star signing of the summer and within 5 minutes you concede the winner. I know it is only the first game in but I would seriously be sh1**ng myself I was a Man Utd supporter. This has the potential of being very nasty indeed.

stevemelbourne
Now Are You Nervous, Louis?

I

n the words of Pete Townsend, meet the new boss, the same as the old boss. Though I would comment that it's 3 more points than we picked up in the same fixture last year, so that's a 100% improvement.

uncle monty
No Sign That Liverpool Will Lessen Attacking Intent

Footer 365

Chelsea goalkeeper Thibaut Courtois wants rival Petr Cech to stay

Thibaut Courtois wants Petr Cech, his rival for the Chelsea goalkeeper's jersey, to stay at the club.

Champions League: Arsenal boss Arsene Wenger slams decision to send off Aaron Ramsey

Arsene Wenger described Aaron Ramsey's dismissal as "unacceptable" after Arsenal picked up a 0-0 draw at Besiktas.

Sky Bet Championship: Nottingham Forest go top, level with Cardiff, Charlton and Millwall

Nottingham Forest came from behind to replace Bournemouth at the top, level with Cardiff, Charlton and Millwall.

Mail Box

Dear Brendan, Please Sign Di Maria

That's the request to Brendan Rodgers in the mailbox, and not just because it would annoy Man United fans. Plus, more thoughts on why Arsenal didn't want Cescy back...

Man United Fans Still Pining For Mourinho

The morning mailbox ponders where United might be now had the club appointed Jose Mourinho last season, while Chelsea fans are getting very excited...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property