Manchester City announced on Friday a staggering loss of £195m.
The loss shatters Chelsea’s previous high of £141m in 2005 and is the highest recorded for an English Champions League contender.
The one piece of good news for the Blues is that the figures will not be taken into account as part of UEFA’s Financial Fair Play regulations because they fall outside the accounting window but clearly a continued deficit will put them at risk of being excluded from the Champions League.
The loss highlights the large investment made by owner Sheikh Mansour in providing Roberto Mancini with a squad capable of winning the Premier League title.
The billionaire’s spending has transformed the Blues from a mid-table outfit in 2008 to Premier League leaders and Champions League challengers. But City officials admit the losses cannot be repeated going forward.
Chief operating officer Graham Wallace commented
“Our losses, which we predicted as part of our accelerated investment strategy, will not be repeated on this scale in the future.”
The Blues have spent £150m in transfer fees alone, with the likes of Edin Dzeko, Yaya Toure and Mario Balotelli but these exclude fees paid after May 31 on Sergio Aguero, Samir Nasri and Stefan Savic.
Financial expert David Bick reckons the losses prove the Blues are hell-bent on becoming the biggest club in Manchester let alone England.
“It’s a similar level of investment to that at Chelsea, but this is a better set-up in terms of them developing the sites around the stadium.