Cuts Threatened As Participation Drops U.K. Pundits Face $6.8M Tax Bill Player Agent To Split From Impact BBC Pays $308M To Keep MOTD Until '19 Shortlisted Designs For Bristol Arena Court Orders Lens Relegation To Ligue 2 Pay-TV To Be Considered For Six Nations Eurosport Nets Grass Court Tennis Rights Silverstone's $150 Ticket Offer Sells Out Tuna Tycoon Nets Sheffield Wednesday
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
SBD Global/December 17, 2012/Finance
Manchester City Reports $158.3M Loss During '11-12 Championship Season
Published December 17, 2012
WANT MORE GREAT STORIES LIKE THIS?
CLICK ON ONE OF THESE BUTTONS
FINANCIAL FAIR PLAY: In London, David Conn reported Man City "will present a stern test for UEFA's new Financial Fair Play rules when they come into force for the '14-15 season." UEFA rules "allow clubs in European competitions to make a total loss of €45M ($59.2M) between '11 and '13, if that loss is bankrolled by an owner." So, Man City's loss for '11-12 alone "is almost treble the figure allowed." The club indicated that "it will rely on UEFA's detailed exemptions in the hope of complying." The ultimate sanction for a flagrant breach of the rules, which are aimed at stabilizing European football's finances, "is exclusion from continental competition." The rules allow a club to deduct from its losses money spent on infrastructure -- mainly its stadium and youth academy. Man City is building a £140M ($226.4M) training campus on 80 acres near its Etihad Stadium, but "the bulk of the construction has not yet been done and so that expenditure does not eat far into the £97.9M loss" (GUARDIAN, 12/14).