Partner Article

Manchester City reports losses are down

Manchester City football club have reported halving of their losses to around £23m for the year to 30 May 2014.

The figure includes allowing in full for the £16 million UEFA sanctions imposed in May 2014 due to the breaches of the financial fair play regulations.

The club is expecting to enter the 2015-16 season with no outstanding sanctions or restrictions.

Their turnover was 346.5 million, the first time in the history of the club they have broken the £300 million barrier, the figure is against turnover of 271 million for the same period last year.

Club Chairman, Khaldoon Al Mubarak said: “This report documents another memorable year for Manchester City Football Club. In the 2013-14 season, Manchester City won its second Barclays Premier League title in three years and also the Capital One Cup.

“This means the Club has now won every major domestic competition at least once in the last four seasons. Pleasingly we also progressed further in the UEFA Champions League than in previous campaigns.”

Club CEO, Ferran Soriano said “This year Manchester City has reached the levels of maturity, strength and stability that it has been working so hard towards over the past six years.

“The 2013-14 season marks not the end but rather the continuation of an incredible journey, with many goals and new developments ahead.

“In our last annual report I wrote of a transformation underway; now I believe the days of Manchester City playing catch up are over.”

This was posted in Bdaily's Members' News section by Sophia Taha .