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Man City report 194.9m GBP losses

19 November 2011 - 06:51

Ambitious Manchester City have reported a record 194.9m GBP losses for the year 2010-2011. This figure does not include sponsorship and Champions League figures, but the club defended their huge financial offset as a long-term strategy for the club.

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Brian Marwood, the chief football operations officer at the Etihad Stadium said:&nbsp;<br />

"We know that we still have an awful lot of work to do but I think it's exactly where we said we would be in terms of the initial investment.<br />

"Over a period of time we are fully aware we have to be compliant and there's a lot of work going on to make sure that's achieved."<br />

The club have spent huge amounts of money bringing the likes of Samir Nasri and Sergio Aguero to the club; and it appears that the spending will soon stop at the Etihad as they prepare to settle their team for the coming seasons.<br />

The previous record expenditure for a Premier League club came from Chelsea, who spent a whopping 141m GBP in 2005. Ironically, they went on to later win the Premier League that season.<br />

Sheikh Mansour has spent around 460m GBP on new players since arriving at the Etihad, that figure is believed to be a world record.

Written by Conroy Sanders