• 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
  • Salford City
  • Stockport County
  • Stretford Paddock
  • UEFA Champions League
  • Uncategorized

Manchester Football

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

RSS Manchesterfootball Youtube

  • Pep's Man City snubbed by Julia Roberts who went to see Man Utd instead
    manchesterfootball
  • Man City vs RB Leipzig Lightshow and booing of Champions League anthem Tuesday March 14 2023 4K
    manchesterfootball
  • When Julia Roberts came to Manchester she went to see United! - Pep on Erling Haaland's 5 goals
    manchesterfootball

RSS BBC Football News

  • Man Utd takeover latest: Sheikh Jassim also submits second bid after Sir Jim Ratcliffe March 25, 2023
    Qatari banker Sheikh Jassim joins Ineos owner Sir Jim Ratcliffe in submitting a second bid to buy Manchester United.
  • Everton: Premier League refers club to independent commission over alleged breach of financial rules March 24, 2023
    Everton have been referred to an independent commission by the Premier League over an alleged breach of its profitability and sustainability rules.
  • Mykhailo Mudryk: Chelsea must be patient with Ukraine striker, says Andriy Shevchenko March 24, 2023
    Chelsea must be patient with winger Mykhailo Mudryk and see how he performs over the long term, says former Blues striker Andriy Shevchenko.
  • Police speak to Premier League player about a further alleged sexual offence March 24, 2023
    A Premier League footballer facing two rape allegations has been interviewed by police about a further alleged sexual offence involving a third woman.

Search Manchester Football

Copyright © 2023 · Metro Pro on Genesis Framework · WordPress · Log in