• Skip to main content
  • Skip to primary sidebar

Manchester Football

A website about football in Manchester

You are here: Home / Manchester City / Manchester City’s losses halve

Manchester City’s losses halve

January 31, 2014 by Tony Bugby

Manchester City has slashed its annual operating losses by more than a half from £104.1m to £50.6m on the back of record turnover of £271m.

Despite growth in wages and salaries from £201.7m to £233.1m in the year to May 31 last year, the club, bankrolled by Abu Dhabi-based Sheikh Mansour, said it was nearing breakeven.

Chief executive Ferran Soriano said: “Growing revenues and controlled expenses are bringing the club to breakeven in the immediate future and profitability thereafter.”

Mr Soriano said before transfer expenditure the club had reported an operating profit of £30.2m, compared with a £21.1m loss in 2012.

Matchday revenue increased by 12-per-cent from £35.5m to £39.6m. Broadcasting revenue increased slightly from £88.1m to £88.4m,as a result of a second place finish in the Premier League and participation in the UEFA Champions League.

The biggest growth was seen in other commercial revenue – up by a third from £107.5m to £1430m, driven by an increase in the number and value of sponsorship contracts, including Etihad, EA Sports, watch brand Richard Mille.

Mr Soriano, an experienced football industry executive having worked previously at Barcelona, said a further £189.8m of new equity had been injected into the club during the year.

“After paying off its remaining external borrowings, the club is now operating with zero financial debt. The absence of financial debt at Manchester City provides the club with a strong and stable foundation for its future growth and operations,” he added.

Filed Under: Manchester City, North West

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

Primary Sidebar

Categories

  • Altrincham
  • Ashton United
  • Curzon Ashton
  • Europe
  • FA Cup
  • Hyde United
  • International
  • League Cup
  • Manchester City
  • Manchester City Women
  • Manchester United
  • Manchester United Women
  • Match Report
  • Melbourne City FC
  • Mossley
  • New York City FC
  • Non League
  • North West
  • Oldham Athletic
  • Premier League
  • Stockport County
  • UEFA Champions League
  • Uncategorized

Manchester Football

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

RSS Manchesterfootball Youtube

  • Reaction from Brighton fans as Pascal Gross scores twice at Old Trafford against Man Utd - 4K
    manchesterfootball
  • Reaction to Cristiano Ronaldo and Rayo Vallecano smoke bombs at Old Trafford - Man Utd - 4K
    manchesterfootball
  • Vincent Kompany's first Burnley post-match press conference - at Huddersfield Town - July 29 2022 HD
    manchesterfootball

RSS BBC Football News

  • MOTD2 analysis: How 'outstanding' Erling Haaland saw off West Ham August 7, 2022
    Match of the Day 2's Dion Dublin looks at how an "outstanding" display from new Manchester City striker Erling Haaland gave Pep Guardiola's team a win over West Ham in their Premier League match on Sunday.
  • Erling Haaland's double on Man City Premier League debut shows what he will give champions August 7, 2022
    Manchester City's new striker Erling Haaland adds a dangerous, previously unseen dimension as the champions sweep past West Ham United in their Premier League opener.
  • Garth Crooks' Team of the Week: Sanchez, Dier, De Bruyne, Haaland August 7, 2022
    Who looks like a proper defender? Who has been a revelation in England? And who has an electric turn of pace? Find out in Garth Crooks' latest Team of the Week.
  • Marko Arnautovic: Manchester United keen on Austrian striker August 7, 2022
    Manchester United are keen to sign Bologna's former Stoke and West Ham forward Marko Arnautovic.

Search Manchester Football

Copyright © 2022 · Metro Pro on Genesis Framework · WordPress · Log in