LONDON – Manchester City cut their losses on his way to win the Premier League title last season. It makes the Citizens feel confident they will not return violating the rules of the Financial Fair Play (FFP).
City annual income reported on Wednesday (12/03/2014) revealed a loss of 23 million pounds in 2013/2014, a decrease of 51.6 million pounds deficit in the previous year despite including figures include the payment of fines amounting to 16.2 million pounds as a result of the violation by UEFA’s FFP, fines are disputed by the club.
The report also announced that break the wall turnover of £ 300 million for the first time since the owner Sheikh Mansour took over Manchester Blue in 2008, reaching 347 million pounds in revenue in general.
City chairman, Khaldoon Al Mubarak, excited by this fact.
“The club is in place we expect, when we started this transformation six years ago,” he said.
“Now we have to move beyond the period of massive investment needed to make this club competitive again, this is a form of commercial growth that we see at the moment that will underpin and support our operat–operation in the future.”
UEFA impose a fine of 49 million pounds to the City in May, but a fine of 16.2 million pounds is still pending, for violating FFP regulations, to ensure that the club had to adjust to new conditions so as to avoid paying fines greater in the future.
However, chief executive Ferran Soriano, convinced that the situation has changed.
“This year Manchester City has reached a new level of financial sustainability,” he said.
“We have budgeted for profit 2014/2015 and now look forward to entering the 2015/2016 season with no fall sanctions or restrictions.”