Premier League

City reports loss of more than $85M

General View of the Etihad Stadium
Man City reported a loss of 149.5 million pounds ($248 million) between 2011 and 2013.
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LONDON (AP)

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Manchester City lost more than $85 million in a year, exceeding the amount allowed under UEFA's Financial Fair Play rules.

The Abu Dhabi-owned team announced Wednesday that it lost 149.5 million pounds ($248 million) between 2011 and 2013, the first FFP monitoring period, as it spent heavily to transform the club into a European power.

UEFA is only allowing losses of up to 45 million euros ($62 million) in that two-year period. Clubs exceeding that amount risk being sanctioned, and could be banned from playing in Europe.

There isn't a single mention of FFP compliance in the annual report that was released Wednesday.

To comply with FFP, City could point to its spending on infrastructure, the cost of long-term player contracts, and losses coming down.

After losing 97.9 million pounds ($162 million) in 2011-12, City posed a loss of 51.6 million pounds ($85 million) in 2012-13 and revealed that net spending since then in the summer transfer window was 84. 1 million pounds ($139 million).

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The 2012-13 losses would have been more than the previous year had City not generated 47 million pounds ($78 million) by selling ''intellectual property,'' which could include its branding, to ''third parties'' or ''related parties.''

Salaries jumped by 15 percent to 233 million pounds ($386 million) in 2012-13.

But City disclosed that it is now operating with ''zero financial debt,'' while announcing that turnover has risen to 271 million pounds ($449 million).

''Growing revenues and controlled expenses are bringing the club to break-even in the immediate future and profitability thereafter,'' chief executive Ferran Soriano said.

The first UEFA decisions on FFP compliance are expected during March and April.

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