Break Even (City hit crossbar)

[citoeast]

After a Platini/UEFA deflection City just miss break even for the years trading and hit the crossbar.

A £24m loss which would have been £8m if only we had not had the 'UEFA Financial Fixing' fine.

http://www.bbc.co.uk/sport/0/football/30316758 Full story below.

Manchester City chairman Khaldoon Al Mubarak says the club have moved "beyond a period of heavy investment" needed to make them competitive.

The Premier League champions are a step closer to breaking even, posting losses of £23m for the year to 31 May 2014.

That figure includes a £16m fine City paid to Uefa for breaching Financial Fair Play (FFP) regulations.

"The club is where we hoped it would be when we began this transformation six years ago," Al Mubarak said.

He added: "Now we have moved beyond the period of heavy investment that was required to make the club competitive again, it is commercial growth of the kind we are seeing today that will underpin and support our operations in the future."

Owner Sheikh Mansour has invested around £1bn in the club since taking over in September 2008, but the latest accounts are a sign that City are moving towards a model of self-sustainability.

The club's losses have fallen over the last three years, from £197.5m in 2010-11 to £97.9m in 2011-12 and £51.6m in 2012-13.

[reddishblue]

For those that can read, the annual report. For those that can't there some nice pictures too.

http://annualreport.mcfc.co.uk/

[gavin]

A good effort and shame on those cunts on UEFA being the most part of our loss.

[Swiss]

I guess the best thing about the loss is the fact it doesn't count towards the FFP so in their eye's we're only £6 or 7 mil in the red (sounds shocking....)


What's interesting is the fact our transfer losses have been £75 mil for two season's in a row... is this our cap!?