Breaking News: EPL Round Up - Manchester City
Manchester City CEO Garry Cook has assured the club and the fans that the management will do everything in their power to be in line with new regulations of UEFA. The authority has issued new regulations regarding expenditure of clubs,
where any side that makes a loss of more than 45 million Euros over three seasons starting from next year, would be excluded from all UEFA sponsored events. This is bad news for many rich clubs, who have a habit of spending more than what they earn to sign
players and agree audacious wage rates.
Manchester City only recently announced total losses of 121 million pounds for the 12 months ended May 31 2010, quite more than the 92.5 m announced last season. Since the takeover of the club back in 2008 by Abu Dhabi group, City has
gone rampant over signing top quality players, who have changed the overall outlook of the club. Since 2008, Manchester City have brought in 13 new players, and have spent over 1 Billion in signing players, agreeing high wage rates and transfer fees. The club
went to almost all clubs with blank cheques, and paid whatever the clubs asked for.
Even though that has led to an intense improvement in City’s overall game, yet, it gives a very bad impression of the football world today. If City wins trophies owing to this, it would forever end that any low lying club could even reach
the top and giving the impression that money would equals to trophies.
In the defence of the recent losses, Garry cook stated that the club would not enter the transfer market with same intensity and would spend wisely in order to stay in line with the rules of UEFA. Cook explained that the takeover plan
had integrated such spending funds for the manager in order to establish the foundations of the club, without forgetting the need to be in compliance with rules and regulations of all governing bodies.
We are pleased with how that worked, and will not be signing players to the same level of intensity in the next transfer windows. Financial fair play is on our conscience. We talk about it at every board meeting, and it's part of our long-term
plan", claimed the chief executive.
It is demoralising to see a club, who was fighting relegation two seasons ago, to be in the top four only because of monetary freedom. This mean that other clubs, like Everton or Aston Villa, who have spent years to find the right mix
of players, would always be held ransom over losing their best players to a club like City owing to their spending power. The gap of losing a player with whom you spent so much money and energy to groom can never be shortened by some money. That was the case
with James Milner this season who chose to leave Villa owing to higher wage rates provided by City. Milner was a nobody few seasons back and it were the efforts of manager Martin O’Neill to convert the midfielder into a world class performer. All it took City
was spend a few million pounds to have a fully made player at the club.
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