City Juggernaut Announces Record Turnover
Manchester City Football Club has published an annual report in which the English champions have halved their losses and confirmed a club record turnover...
Annual losses have been reduced to £97.9 million which is a sum less than half the £197.5 million announced one year ago.
Turnover reported for the 2011-12 season amounted to a stunning £231.1million, a club record, despite group stage elimination from The Champions League.
MCFC further confirmed: "The capital base of the Club has also been strengthened through the issuing of £169m in new equity during the year, avoiding debt based funding and continuing to ensure that the Club is virtually debt free."
His Highness Sheikh Mansour, Chairman Khaldoon Al Mubarak and their team are nobody's fools. Despite The Blues having had to circle the wagons with greater intensity since being crowned champions, the club remains very much on course towards becoming a major European football force.
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