Saturday, 2nd October 2010
Moneybags Manchester City have announced that they made a loss of £121M up to 31st May this year. The Eastlands outfit have been spending heavily in an attempt to break into the Premier League’s top four and in doing so posted a gigantic loss.
City’s £121M loss is up from the £92.5M posted in the previous year. A concern will surely be the club’s wage bill which, at £133M, is larger than their entire turnover, which stands at £125M.
The club’s chief executive Garry Cook stated that the club were unlikely to continue to splash out huge sums on player transfers, which should help to balance the books at least a little more.
"Player acquisitions on the scale seen in previous transfer windows will no longer be required. The squad is in ideal shape." said Cook.
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