Saturday, November 19, 2011

Manchester City loss is biggest ever in English soccer history...

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. Full story...

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