Man City CEO Ferran Soriano Says Club Working To Break Even This Season
Man City "will break even this season," CEO Ferran Soriano said on Tuesday as he "refuted the idea" the club's losses of £150M ($246M) in the last two campaigns breached UEFA's Financial Fair Play rules, according to Matt Smith of REUTERS. Soriano: "We are working towards breaking even this season." Man City made a loss of £51.6M last season, down from a deficit of £98.7M in '11-12. New Financial Fair Play rules brought in by UEFA cap headline losses at €45M in the two seasons between '11 and '13, the first monitoring period. Soriano said that City's deficits "were within those limits." Clubs that do not comply "could be excluded from the Champions League" (REUTERS, 2/11).