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SBD/November 21, 2011/Franchises
Published November 21, 2011
COURSE OF COMPLIANCE: EPL club Manchester City insisted that "they are on a course to comply with UEFA's forthcoming Financial Fair Play (FFP) regulations, despite announcing record losses of" $305.9M (all figures U.S.). The club "confirmed the open secret that, in the most recent accounting period, they made the biggest loss in English football history, eclipsing the previous high" of $220.6M recorded by Chelsea in '05. In London, Matt Hughes noted Manchester City's losses are "unsurprising given how they have thrown money at recruiting some of the world's best players since Sheikh Mansour bought the club in 2008." Mansour has spent $1.3B on the club in that time (LONDON TIMES, 11/19).
NOT FOR SALE: In the U.K., Mat Kendrick noted Aston Villa Owner Randy Lerner confirmed that he "has absolutely no intention of selling the club." Lerner indicated that his "absence from all but one of Villa’s matches so far this season was due to his son changing schools." He said that work is "continuing behind the scenes about the possible pros and cons of re-developing the North Stand and increasing the capacity of Villa Park to 50,000" (BIRMINGHAM MAIL, 11/19). Lerner: "I am someone who runs the risk of being an under-communicator. But I would rather be hard-working and focus on my job and under communicate than the opposite direction" (LONDON TIMES, 11/19).
NOT INTERESTED: In Atlanta, David O'Brien noted if Liberty Media "decides to sell the Braves," Mavericks Owner Mark Cuban said that he "wouldn’t make an offer." Cuban said, "I like franchises that need a lot of help. The Braves have a great franchise." Liberty has "not announced any intentions to sell the franchise, but there's been much speculation the group will sell at some point in the not-too-distant future because the Braves are not considered an important asset by Liberty" (AJC.com, 11/19).