Tottenham Combats Fan Group English Clubs Quit Heineken Cup Barcelona Visit A FC Cartagena Windfall Minichiello Rejoins British Athletics BBC To Show 200 Hours Of Sochi 2014 U.K. Execs: Females Chosen On Merit ECB Partners With Threepipe Man City Submits Etihad Expansion Plan Valencia Politician Critical Of Grand Prix AFL Carlton's Doubles Gaming Revenue
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
SBD Global/December 17, 2012/Finance
Manchester City Reports $158.3M Loss During '11-12 Championship Season
Published December 17, 2012
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).