English Premiership

City reveal record losses

2010-10-01 19:04
Manchester City logo (File)

Manchester - Manchester City's spending spree on players and salaries have led to record losses of 121.3 million pounds, the club's annual report revealed on Friday.

Although City's turnover increased by 40 percent to 125 million pounds, this has been swamped by salary costs of 133.3 million, a 50 million rise on a year ago.

That puts City - bankrolled by Abu Dhabi-based owner Sheikh Mansour - behind Chelsea, whose wage bill is 142 million pounds, but ahead of Manchester United (123m) and Arsenal (110m).

City chief executive Garry Cook said the losses "should come as no surprise" but that the club would now scale back on new signings.

He said: "It is safe to say that player acquisitions on the scale we have seen in recent transfer windows will no longer be required in the years ahead now that we have such a deep and competitive squad.

"In 2009/10, we narrowly fell short of our goals on the pitch, but still achieved nine club records including our best-ever result in the Premier League."

Cook said the squad was "in ideal shape" under Roberto Mancini's management.

The annual report also shows that the club's net spending on transfers has totalled 403 million pounds since 2008.

City's net spending this summer was 96.6 million pounds - they actually spent around 126 million pounds but recouped 30 million pounds from the sale of Robinho and other players.

The club are currently fourth in the league four points behind leaders Chelsea.

Read more on:    epl
NEXT ON SPORT24X

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
Live Video Streaming
  • Blitz
    Mon, 24 Nov 2014 @00:00
  • SS1
    Mon, 24 Nov 2014 @01:00
  • SS2
    Mon, 24 Nov 2014 @02:00
  • SS3
    Mon, 24 Nov 2014 @03:00
Video Highlights
Sport Talk

 

Joburg hot spots for cocktails, craft beer, tapas and wine!

It’s the season to be jolly – so we’ve rounded up some new Joburg hot spots!

 
 

I love summer.24

Christmas lingerie to make this festive season the best one ever!
13 things you might not know about Disneyland
The craziest deaths of 2014
How to make this a sensual, sexy summer!
Fixtures
20 December 2014
Manchester City v Crystal Palace, Etihad Stadium 14:45
West Ham United v Leicester City, Boleyn Ground 17:00
Queens Park Rangers v West Bromwich Albion, Loftus Road Stadium 17:00
Southampton v Everton, St. Mary's Stadium 17:00
Hull City v Swansea City, The KC Stadium 17:00
Aston Villa v Manchester United, Villa Park 17:00
Tottenham Hotspur v Burnley, White Hart Lane 17:00
21 December 2014
Newcastle United v Sunderland, St. James' Park 15:30
Liverpool v Arsenal, Anfield 18:00
22 December 2014
Stoke City v Chelsea, Britannia Stadium 22:00
Logs
Team P W PTS
Previous Results

Date Home Team Result Away Team
Vote

How long will Mario Balotelli last at Liverpool?

 
 
/Sport
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Featured

Got something you'd like to get off your chest? Got a burning desire to air an opinion? If so, be sure to sign-up on Sport24's FORUM!

Latest blogs
 

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

Newsletters Sign up for the Morning Glory, Super 15 and Soccer newsletters

WIN Enter and win with Sport24!

Mobile Sport24 on your mobile phone - WAP, alerts, downloads, services

Forum Have your Say on Sport24's brand new Forum!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

Blogs Yes your opinion counts. Get it out there

 
There are new stories on the homepage. Click here to see them.