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City set to announce record losses

"Manchester City set to announce record loss as United post pre-tax profits "

 

 

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Manchester City are now a club who look like being realistic title challengers to Manchester United for the first time in decades - yet they have never looked further apart in financial health.


City will soon publish their annual accounts for the 2010-11 season and are expected to post the biggest one-year loss in English football history.


In the 2009-10 campaign the losses were a record £121million and even the club have been warning things will get worse before they get better.


The wage bill alone in their last figures (£133m) was bigger than City's income (£125m) and has ballooned further. United, by contrast, have just posted results for 2010-11 that showed a record income of £331.3m for 2010-11 and record operating profits of £110.9m.


Even with interest payments of £51.7m on the debts racked up by owners the Glazers, United posted healthy pre-tax profits.


And while a sum approaching £500m has gone from United's coffers on debt interest and other takeover-related costs in the Glazer reign (since 2005), United's net debts have halved to just over £300m now from a peak of more than £600m in 2008.


United have improved in making money from commercial partnerships, exemplified by the deal with DHL, who are paying £10m a year for four years to sponsor the training kit. City's key deals are with firms related to their owner Sheik Mansour or based in or near Abu Dhabi.


And so they face the hurdle of meeting UEFA's Financial Fair Play rules - and therefore a ban from UEFA competition - which state clubs must be breaking even in three years, with leeway for a few seasons but no major benefactor wealth allowed thereafter.

 

 

 

 

 

City's young slickers! Spend, spend, spend? No need, we made these ourselves

 

 

 

Abdul Razak

Age: 18

Position: Midfielder


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Born in Ivory Coast, Razak briefly joined the likes of John Bostock and Victor Moses in Crystal Palace's youth set-up on trial, before being given an opportunity to follow his Premier League dreams.


But although the former two have yet to make their mark in the top flight, despite the latter enjoying plenty of opportunities at Wigan, City believe Razak is the real deal and he has already featured as a Premier League substitute in the last two seasons.


The club see the youngster in the mould of Patrick Vieira, with assistant boss David Platt particularly impressed. Platt said: ‘He's a talent, he has trained with us on a regular basis. He has ability, no doubt about that.'


He is now on-loan at Championship side Portsmouth.



 

Luca Scapuzzi

Age: 20

Position Striker


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A product of AC Milan's youth set-up, Scapuzzi failed to feature for the Rossoneri, playing only in a loan spell at Italian third tier side Portogruaro between 2009 and 2011. Despite winning promotion, he failed to score in 22 games in two seasons at the club, and became a free agent at the end of last term.


Scapuzzi joined City on trial in the summer and after coming off the bench to score against Inter Milan pre-season, signed a three year contract.


His lively showing against Wolves was his first start for the club having come on as a late sub against Birmingham a month earlier.




Karim Rekik

Age:  16

Position: Centre-back

 

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After spending nine years at Feyenoord without making an appearance, Rekik arrived from Holland in the summer and impressed enough to feature in the first-team's pre-season games.


A defender who is confident on the ball, Rekik played a key role in Holland's march towards the Under 17 European Championships in May and skippered his side during World Cup in Mexico a month later.


Rekik has featured as a substitute in two Carling Cup games, playing 12 minutes against Birmingham last month and 17 against Wolves.




Denis Suarez

Age: 17

Position: Midfielder


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City fought off interest from Barcelona to land Suarez from Celta Vigo for £850,000 in the summer, with the fee likely to rise £2.75m dependent on appearance and performance.


The midfielder has featured for Spain at Under 17 level but had yet to make his professional debut before arriving at the Etihad Stadium.


Suarez featured against LA Galaxy pre-season but only made his debut as a substitute against Wolves on Tuesday, playing 23 minutes.