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Free-spending English Premier League football club Manchester City is set to announce that it experienced an operating loss of £121 million over the last financial year, according to a report.
The Guardian claims the Eastlands outfit's total income of £125 million in the 12 months ending on May 31st 2010 was smaller than their overall wage bill, which rose to £133 million following the signing of several international players.
Abu Dhabi-based billionaire Sheikh Mansour bin Zayed al-Nahyan took ownership of the club from former Thai prime minister Thaksin Shinawatra in 2008 and has so far invested around £500 million into the club.
The loss is the second biggest in the history of the English Premier League, with Chelsea's 2004-05 outgoings £141 million greater than the amount of money coming into the south London side.
Manchester City's results raise concerns about their ability to comply with UEFA's financial fair play rules, which will gradually come into effect starting next season.
Written by Terry Mitchell
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
