Manchester City halve annual losses in 2011/12

15/12/2012 no comments »
Manchester City halve annual losses in 2011/12

Manchester City released their annual reports for the 2011/12 season with record annual revenue of £231.1m and halved the annual loss from the previous year.

Manchester City won the Barclays Premier League for the first time in the 2011/12 season and secured the Club’s first top flight league title since 1968.

For the first time in club history, City reached the £200m revenue threshold. The revenue increase by 51% compared to the previous year to £231.1m came mainly through the Champions League and their contribution of £22m of new revenue. City’s sponsorship revenue also increased by 100% from £48.5m to £97.0m mainly driven by a new comprehensive partnership with Etihad Airways.

The report reveals that City has more than halved its losses, reporting a net loss of £97.9m, down from £197.5m in the previous period. However, The club’s wage bill increased to £178.2m from £153.7m the previous year.

The report the club said: “Manchester City Football Club has undergone a significant period of investment since its acquisition by the Abu Dhabi United Group (ADUG) in 2008.” Since 2008, Sheikh Mansour of Abu Dhabi it has spent over half a billion pounds on new players. However, the club states that their player recruitment strategy “transitioned from one of rebuilding to one of refinement.”

Uefa’s Financial Fair Play rules, which say clubs must break even over three years, come into full effect in 2013-14. The annual report can be found here.

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