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
Report: NYCFC Eyes Queens Stadium    
New York City FC is considering building its stadium near the Acqueduct Racetrack in Queens, Capital ...
Ronaldo on Track to Break European Scoring Records    
If he remains injury-free this season, Cristiano Ronaldo should become the all-time leading scorer in both ...
Jardim: Monaco "Superior" in UCL Opener    
Leanardo Jardim hailed AS Monaco's "superior" display in Tuesday's 1-0 win against Bundesliga giant Bayer Leverkusen ...
Rodgers: 'Balotelli Needs to Stay in the Box'    
Liverpool coach Brendan Rodgers said that Mario Balotelli needs to stay in the penalty area more ...
Casillas Booed at Home    
Real Madrid coach Carlo Ancelotti said he didn't hear the sections of the Bernabeu crowd that ...
'Perfect' Dortmund Brushes Gunners Aside    
Borussia Dortmund cruised to a 2-0 win against Premier League giant Arsenal in the opening game ...
Simeone: Atletico Spurned Chances in UCL Loss    
Spanish champ Atletico Madrid on Tuesday slumped to a surprise 3-2 defeat at Olympiakos on the ...
Johnson Steps Down as Fox's Lead Soccer Broadcaster     
In an interview with Sports Illustrated, Gus Johnson reveals that he will no longer be Fox's ...
Barca Names Training Field After Vilanova     
Barcelona on Tuesday announced that a field at the club's training ground would be named after ...
Bayern Injury Crisis Ahead of City Visit     
Bayern Munich is struggling with injury concerns ahead of its UEFA Champions League home opener against ...
>> Section 2 Around the Net Archives