Newspaper article Manchester Evening News


Newspaper article Manchester Evening News


Article excerpt

CITY'S will comply with Uefa's Financial Fair Play (FFP) regulations next year after posting record revenues for the year ending May 31.

The Blues generated Pounds 346.5m of income for the 2013-14 season, a 28 per cent increase, thanks to finishing as Premier League champions for the second time in three seasons, the lucrative new TV deal and rises in commercial income.

City have also halved their losses to Pounds 23m, Pounds 16m of which was the fine imposed by Uefa earlier this year for FFP breaches.

The results almost certainly ensure City will avoid a second year of Uefa sanctions.

Chief executive Ferran Soriano hailed 'a new level of financial sustainability' and said the club had halved their losses for three successive years.

He added City have budgeted to make a profit in 2014-15 and expect to enter the 2015-16 campaign with no outstanding sanctions or restrictions.

Chairman Khaldoon Al Mubarak said: "Commercial success has never been an afterthought for Manchester City.

"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."

The results also show City are no longer the club with the biggest wage bill in the Premier League - they are now second on Pounds 204m behind United's Pounds 214.8m.

In terms of Uefa's FFP rules, City's results should mean the full Pounds 50m conditional fine announced in May will not apply and the financial penalty will be limited to Pounds 16m.

City, who are due to unveil their new academy next week, are also able to write off large sums spent on youth development and new facilities as far as FFP is concerned, with club sources confident they have a cushion of Pounds 20m to Pounds 25m above Uefa's allowed losses.

The figures underline the strides the club has made since the takeover by Sheikh Mansour bin Zayed al-Nahyan, of the Abu Dhabi ruling family, since he bought the Blues on the last day of August in 2008. …

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