Man City has announced the biggest annual loss in English football history. The loss of £194.5m eclipses that of the previous record of £141m, held by Chelsea.
Though this loss is akin to you or me losing a quid down the back of the sofa, it may affect City’s ability to comply with the ‘financial fair play’ rules due to be introduced by UEFA to combat the vast financial chasm that exists between elite clubs and those not fortunate enough to be owned by the type of people who own solid gold toilets.
Like Chelsea before them, Man City’s monumentally rich owners have forked out hundreds of millions of pounds in transfer fees, and wages of up to £250,000 a week to compile a team capable of winning the Premier League.
It looks like it’ll work out for them this season, but, if UEFA are serious about ‘financial fair play’, future losses on this scale could see Man City banned from European competition.
By Peter Simpson