20 Nov 2011

Man City posts record financial loss

12:55 pm on 20 November 2011

The Premier League leaders Manchester City announced annual losses of 195 million pounds ($NZ 406 million), the highest ever recorded in English football.

Whilst accepting the vast scale of the losses, City officials were adamant it marked a low point in their financial graph and from this point forward, they would be embarking on a significant upward trend.

Thankfully for City, the figures will not be taken into account as part of UEFA's Financial Fair Play regulations, as they fall outside the accounting window.

Although officials are aware of the likelihood of all the focus going on the eye-bulging headline figure, they are insistent the losses should be taken in context with the club's position as a whole.

In spending huge amounts on Roberto Mancini's playing squad, the Blues have been left with a number of players, including Emmanuel Adebayor, Roque Santa Cruz and Wayne Bridge, who are of no real value to City now but still have to be paid, money which rolls into a seven-figure sum every month.

Only now do City believe they have got to the situation required for a leading club of having two men for each position.

And, given most of Mancini's players are young, vast recruitment drives such as those which have been seen so often over the past three years will not be necessary.