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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.
Brian Marwood, the chief football operations officer at the Etihad Stadium said:
"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.
"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."
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.
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.
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
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