Manchester City made a financial loss of £121m in the 12 months to 31 May 2010, the first full year of ownership by Sheikh Mansour bin Zayed Al Nahyan, the club will announce today. Their income of £125m was entirely eclipsed by the wage bill which, for all staff, rose to £133m, up from £83m. That meant the club spent £8m more than their entire turnover on wages alone.
City's strategy is similar to Chelsea's in the early days: invest heavily in players to gain success on the pitch, which brings higher earnings from television, tickets and commercial revenue. The aim is to bring young players through to replace the senior earners, and thereby bring income and expenditure more into line.
Their challenge, though, is to meet Uefa's financial fair-play edict, which requires clubs to break even beginning next year. Clubs are permitted to lose only €45m (£39m) to 2014 or they may face sanctions, including, most severely, exclusion from European competitions.
10spro wrote: fans should be behind Roy despite the bad results.
Why?
To blame everything on him is the easy thing to now. A lot of the current rosters brought by Rafa are just under performing and impatient fans are asking instead for Kenny D? Is he the solution? O'Neill? There are three, four, five guys at least where their heart is someplace else. Let's not even discuss ownership issues, but to sack a guy this early will all of the sudden steady a sinking ship?
Manchester City made a financial loss of £121m in the 12 months to 31 May 2010, the first full year of ownership by Sheikh Mansour bin Zayed Al Nahyan, the club will announce today. Their income of £125m was entirely eclipsed by the wage bill which, for all staff, rose to £133m, up from £83m. That meant the club spent £8m more than their entire turnover on wages alone.
City's strategy is similar to Chelsea's in the early days: invest heavily in players to gain success on the pitch, which brings higher earnings from television, tickets and commercial revenue. The aim is to bring young players through to replace the senior earners, and thereby bring income and expenditure more into line.
Their challenge, though, is to meet Uefa's financial fair-play edict, which requires clubs to break even beginning next year. Clubs are permitted to lose only €45m (£39m) to 2014 or they may face sanctions, including, most severely, exclusion from European competitions.
I guess any sort of spending is sustainable, but £121m is still an impressively huge loss to make in one year.
It's less than Chelsea's record £145m....which was 6 years ago.
And those financial rules (aka 'let's keep the status quo the way it is') would not remotely stand up in court. Maybe our Arab overlords should just give City an oil field, and then we've got commercial income
"The players come from all over the world, the money from deep underneath the Persian Gulf, but, as another, older City poster campaign put it, this is their city. They may now exist in the global spotlight, but they intend to keep it that way."
"It is unfortunate, especially since he does not need to do it. The funny thing is that the referee did not even show a yellow card for it. Apparently, there are other standards. But I have a problem with the way Nigel needlessly looks to push the limit. I am going to speak to him.''
"It is unfortunate, especially since he does not need to do it. The funny thing is that the referee did not even show a yellow card for it. Apparently, there are other standards. But I have a problem with the way Nigel needlessly looks to push the limit. I am going to speak to him.''
If that's true, it's an admirable position to take. I'm sure that listening to months of almost universal condemnation about the Dutch play in the Final has more than a little to do with it...as does having a surfeit of defensive midfielders.
XBL Gamertag: RobVarak
"Ok I'm an elitist, but I have a healthy respect for people who don't measure up." --Aaron Sorkin
Oddly enough, van Bommel, who is a far more disgraceful character, is actually captain. So much for consistency.
But then, of course, he is van Marwijk's son-in-law.
Also strange that this Dutch clown saw fit to come out with this despite the referee not adjudging it to be a red card offence. Also odd given that de Jong is a better DM than anyone else in that side.
Still, at least Nige will be fit and rested for the Arsenal game. Let's just see how many mentions he gets from that spectacular hypocrite Wenger, he of the 'I didn't see the incidents that led to 60 or so red cards for Arsenal in under 10 years'.
"The players come from all over the world, the money from deep underneath the Persian Gulf, but, as another, older City poster campaign put it, this is their city. They may now exist in the global spotlight, but they intend to keep it that way."
fsquid wrote:Van Bommel plays for a proper team though.
Yeah, 12th in the Bundesliga, 5 goals in 7 games.
I suppose he is with the right team though - after all, he is a prize twat.
"The players come from all over the world, the money from deep underneath the Persian Gulf, but, as another, older City poster campaign put it, this is their city. They may now exist in the global spotlight, but they intend to keep it that way."
I remember when football was a game for men. Of course, as a Barcode of my acquaintance made a point that Newcastle players are not like that, I laughed at Joey Barton...and then thought of Saint Alan Shearer.
"The players come from all over the world, the money from deep underneath the Persian Gulf, but, as another, older City poster campaign put it, this is their city. They may now exist in the global spotlight, but they intend to keep it that way."
Arf arf. But will that movement up the table chock full of mediocrity come before Munich are deserted by the fans, split roughly equally between suit-wearing corporate spivs and the sort of sad muppets who exist only in Germany...you know, people who not only believed that the mullet was a neat fashion accessory, but tragically still do.
"The players come from all over the world, the money from deep underneath the Persian Gulf, but, as another, older City poster campaign put it, this is their city. They may now exist in the global spotlight, but they intend to keep it that way."
davet010 wrote:Arf arf. But will that movement up the table chock full of mediocrity come before Munich are deserted by the fans, split roughly equally between suit-wearing corporate spivs and the sort of sad muppets who exist only in Germany...you know, people who not only believed that the mullet was a neat fashion accessory, but tragically still do.
tickets sold are tickets sold. It is about the dolla dolla bills.
If you need the money that badly, well who am I to argue ?
"The players come from all over the world, the money from deep underneath the Persian Gulf, but, as another, older City poster campaign put it, this is their city. They may now exist in the global spotlight, but they intend to keep it that way."
Naples39 wrote:
And no comments about Liverpool sale?
No. I'm treating this like a 10 year-old kid seeing his parents fight. Just covering my ears and hoping that it all turns out ok.
The boardroom drama is crazy, though.
I have competed in iRacing against your club's future owner, John Henry. Besides the Red Sox, he also owns the iRacing PC racing simulation and is a semi-regular participant.
"You know why I love boxers? I love them because they face fear. And they face it alone." - Nick Charles
"First on the throttle, last on the brakes." - @MotoGP Twitter signature
They'll be tapping him up for £300m for a new stadium next. And a shitload of new players to replace the shite they've got. And a payoff for Woy so they can get a proper manager.
He'll need reet deep pockets, buying out the two stooges is only the start of it.
"The players come from all over the world, the money from deep underneath the Persian Gulf, but, as another, older City poster campaign put it, this is their city. They may now exist in the global spotlight, but they intend to keep it that way."
davet010 wrote:If you need the money that badly, well who am I to argue ?
Last time I checked, clubs ran on money baby.
Ours runs on oil.
"The players come from all over the world, the money from deep underneath the Persian Gulf, but, as another, older City poster campaign put it, this is their city. They may now exist in the global spotlight, but they intend to keep it that way."
Oh, and for those who believe that the likkle brownshoe club from the North-East was hard done by on Sunday, and were justified in going running off to the FA like a bunch of smacked-arsed schoolgirls, let us examine their shining record of disciplinary endeavour.
Still, I guess if City had only one decent player (who isn't theirs anyway) and he got injured, I might be upset as well. Maybe more upset than Newcastle's Assistant Manager, Colin Calderwood, who stated on Sunday that he saw nothing malicious in the challenge.
It does somewhat beggar belief that a team with people such as Nolan and Barton wants to open the Pandora's Box of after match judicial review.
Be careful what you wish for, Barcodes, you might just get it.
"The players come from all over the world, the money from deep underneath the Persian Gulf, but, as another, older City poster campaign put it, this is their city. They may now exist in the global spotlight, but they intend to keep it that way."
davet010 wrote:Tell him he's a mug and should steer well clear.
They'll be tapping him up for £300m for a new stadium next. And a shitload of new players to replace the shite they've got. And a payoff for Woy so they can get a proper manager.
He'll need reet deep pockets, buying out the two stooges is only the start of it.
Carlos Slim is a minority partner as well. Pockets ought to be deep enough, if the deal actually happens.
That much cash behind the deal with no jihad money would make me very, very happy.
XBL Gamertag: RobVarak
"Ok I'm an elitist, but I have a healthy respect for people who don't measure up." --Aaron Sorkin
