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Manchester City: Blues still in the red but cut debt by over half in annual report

 

Manchester City ran the risk of spending too big over the last few years, as UEFA's Financial Fair Play slowly comes around.

But a report released by the club has shown that despite debts of nearly 100m, they are making vast improvements off the pitch, as owner Sheikh Mansour's long term vision for the club starts to take shape.

City cut their debts by over half from 197.5m the season before, and have increased turnover to over 200m, making them only one of four clubs in England to do so, with local rivals Manchester United, Arsenal and Chelsea the other three.

Mansour has now spent 1 billion pounds since taking over the blub, with the majority of that directly funding player transfers and wages, the latter consuming the biggest amount of the club's money.

City spent more cautiously than previous seasons over the summer, much to the frustration of manager Roberto Mancini, but their expenditure on wages rose by 20m from the season before.

City will hope that with their new youth academy planned for 2014/15, they will bypass some of the FFP regulations, as teams are allowed to spend 15 million on academies without rebuke from UEFA.

But with Mancini hoping his boss will get the cheque book out once more to reignite their flagging title bid, the team currently six points of United at the top of the league, Mansour's more shrewd approach to the club's finances may not be what Mancini would have hoped for.
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