English Premier League Latest:
Manchester City suffer record financial losses
The English Premier League and quite possibly the world’s richest club,
Manchester City has suffered one of the greatest losses in the clubs history.
The Manchester based team suffered an astounding loss of around a hundred and twenty one million pounds. However the fact that the team has not been affected by the sheer scale of the loss just goes
to show how enormous the capital of City's new owners really is.
The owner of the club, Sheikh Mansour of the Abu Dhabi United Group said in a letter posted on the club’s website, "Two years ago I was fortunate enough to become part of the
Manchester City story and I remain grateful for the warmth of the welcome that you have given me."
"The ownership of a club like Manchester
City, with such a rich heritage and diverse community of stakeholders, carries a unique set of obligations to the fans, staff and broader
Manchester community. This is something I do not take lightly.”
"Therefore the challenge I set my board and executive leadership team is to develop City so that it is one of the most successful clubs both on and off the pitch, but to do so without losing any of the characteristics that
make it so special."
The way things are going at the club, it is very unlikely that the team will stop spending at the moment. If anything, City plan on going on another shopping spree as soon as the January transfer window opens up again.
City currently also have one of the highest wage bills in the world, but do not appear affected by this fact. The owner and chairman of the club has stated that he wishes to bring unprecedented success to the club. This is
why he has said that he is willing to spend as much money as is required to achieve that goal of his.
So far, City has been doing the best that they have ever done over the last sixty four years. Hence it might not be long before the team manages to achieve the very goal that the Sheikh has in mind for the club.
With City having already beaten the likes of
Chelsea this season, they have proven that they are now a force to be reckoned with and are now no longer just a team of expensive misfits. Roberto Mancini has done a rather remarkable job at the club and is looking to go one step further
by ending the trophy drought at the club this season.
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