Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Manchester City incurs record losses
CNN, November 18th, 2011 5:45PM

MOST READ

MOST COMMENTED

English Premier League leader Manchester City has announced losses of $307.8 million for the financial year 2010-2011 -- the highest-ever recorded in English soccer. The club confirmed that the figures were expected and it now expects an upward trend in their financial graph.

"Our losses, which we predicted as part of our accelerated investment strategy, will not be repeated on this scale in the future," said chief operating officer Graham Wallace. "These financial results represent the bottoming out of financial losses at Manchester City, before the club is able to move towards a more sustainable position in all aspects of its operations in the years ahead."

Since its new Abu Dhabi owners took control of the club in 2008, Man City spent huge sums on stars such as Edin Dzeko, Samir Nasri, David Silva, Sergio Aguero and Yaya Toure.

High-earning players such as Emmanuel Adebayor, Carlos Tevez and Roque Santa Cruz remain on the wage bill despite not having a first team future with the club.

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Creighton shuts down Jordan Morris    
No. 24 Creighton got goals by freshman Ricky Lopez-Espin and Fabian Herbers to beat No. 13 ...
Redknapp to Sign Two-Year QPR Extension    
Despite losing his first three games of the season, Queens Park Rangers coach Harry Redknapp revealed ...
Hernandez, Juve Agree Personal Terms    
The Corriere dello Sport on Friday reported that Juventus has agreed personal terms with Manchester United ...
Cambiasso Joins Leicester City     
Former Inter Milan midfielder Esteban Cambiasso on Friday officially joined Premier League club Leicester City. The ...
Fringe Players' Pay Could Derail Man United Transfer Plans    
Following the British record $99 million arrival of Angel Di Maria from Real Madrid, Manchester United ...
Chelsea's Torres Wants AC Milan Move     
Chelsea striker Fernando Torres is said to be closing in on a move to AC Milan ...
Report: Gunners Favorite to Sign Falcao on Loan     
ESPN on Thursday reported that AS Monaco has made sought-after striker Radamel Falcao available for a ...
Xabi Alonso Transfer Raises Question Marks in Germany    
Xabi Alonso's 10 million-euro ($13.2 million) transfer from Real Madrid to Bayern Munich has been met ...
Rooney Named England Captain     
Roy Hodgson on Thursday named Wayne Rooney captain of England following the retirement of former captain ...
Van Basten Exhibits 'Severe Symptoms'; Leaves AZ Indefinitely     
Netherlands and AC Milan legend Marco van Basten on Thursday mysteriously left his post as AZ ...
>> Section 2 Around the Net Archives