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
Sporting Demands UCL Replay     
Sporting Lisbon has lodged a formal complaint with UEFA demanding a replay of its UEFA Champions ...
FIFA Rankings: USA Falls to 23rd    
Jurgen Klinsmann's USA fell six places to 23rd in FIFA's international rankings following a pair of ...
Diego Costa Released from the Hospital     
Chelsea is expected to be without striker Diego Costa when the Blues visit Manchester United at ...
Reports: Ibra Suffers Injury Setback     
Reports in Sweden claim that Zlatan Ibrahimovic could require surgery on the heel injury that has ...
FIFA Backs Clasico Pause for Messi's Record     
Lionel Messi heads into Saturday's game against Real Madrid at the Bernabeu just one goal short ...
Allegri: Juve Can Still Qualify    
Massimiliano Allegri believes Juventus still has a good chance of qualifying for the Round of 16 ...
Mertesacker: Gunners Lack Confidence    
In a candid interview, Arsenal center-back Per Mertesacker admits that the Gunners are low on confidence ...
Rodgers: Why Always Balotelli?     
Once again, it was all about Mario Balotelli, as Liverpool coach Brendan Rodgers fielded a barrage ...
Report: Demand Amps Up Ahead of El Clasico    
This Saturday's Clasico between Real Madrid and Barcelona, which regularly draws hundreds of millions of viewers ...
Ferguson: Moyes Didn't Inherit Declining Man United    
Alex Ferguson has updated his book My Autobiography to include a section about the short reign ...
>> Section 2 Around the Net Archives