Manchester City have reported a loss of £92.6million, the biggest in British football history.

City have posted their financial results up to the end of May 2009, which means last summer's financial outlay has not been included.

The figures show the huge amount invested by Sheikh Mansour since he bought the Eastlands outfit from Thaksin Shinawatra in September 2008.

The figures do include the previous year's business, when City smashed the British transfer record to bring Brazilian superstar Robinho to the club for £32.5million.

Another Brazilian, Jo, also arrived although he has since joined Everton on loan, while Shay Given and Craig Bellamy were among a clutch of top-name players who joined 12 months ago.

Since then, of course, manager Mark Hugheshas lost his job and been replaced by Roberto Mancini.
Changes

City's chief financial and administration officer Graham Wallace said: "The

financial results reflect a period of rapid change at the club, the result of long-term planning and investment by the Board and our owners, to create a sustainable business in the future.

"We have always said that this transformation will take a number of years and these figures reflect that."

On a normal business level, there have been areas of growth.

Turnover increased by six per cent to £87million, attendances rose to 42,890 from an average of 42,081 in the previous season, with ticketing revenues ahead by £1.8million, mainly as a result of the extended UEFA Cup run.

Television revenues rose by 12 per cent to £48.3million, also as a result of UEFA Cup performance.

Ultimately though, the figures represent a massive change at the club.

While City's playing squad is the obvious example of money being poured in from Abu Dhabi, there have been other, less noticeable costs.

Hughes' demands to substantially improve the Carrington training ground were met. There were additional infrastructure costs, website and technology applications and staffing levels also went up.

For Sheikh Mansour and chairman Khaldoon Al Mubarak, these were essential in the growth of what was a middle-ranking Premier League outfit to one, by their own admission, which is expected to secure a top four spot this season and win the title - for the first time since 1969 - next.

Just as Roman Abramovich has done at Chelsea, Sheikh Mansour has turned the £304.9million shareholder loans he made to City into equity.

He has also purchased further shares to a value of £89.6million in a what is termed as a "show of commitment" to City.

"The owners' decision to convert debt to equity is in line with their previously-stated financial strategy and is fantastic news for supporters of Manchester City, whose club is now on a secure financial foundation that gives a tremendous platform to build from in future years," added Wallace.

Source: skysports.com

So, how will the proposed rules to be introduced by FIFA and UEFA aimed to reduce clubs debt with censure affect them, I wonder? Time will tell....

Here is the new phone released yesterday by google.

stop copying APPLE!

I see many fans are think chelsea will win the league this year cared: ..
If you have noticed fergie last bought mouncho after the last afro cup of nations and got rid of him quickly.i dont think its because he was terrible he had a very good head on him but i think it was because of the afro cup of nations being on the most important part of the Premiership witch the champions of the league always do well in!
Now Chelsea are missing Drougba,Essien,Kalou,Mikel!Big name gone there and they were player bad any way so can you imagine to results there going to get in the next few weeks!



Lads mark my words we win every game in Jan were going to win the league!!!!!!!

Nemanja Vidic is to hold crunch talks with his agent this week as speculation grows over his Manchester United future.

Reports have emerged in recent months that the Serbian centre back, 28, has grown unsettled in the north west of England. Spanish giants Real Madrid and Barcelona have both been linked with a big money swoop for the £30 million rated star.

These rumours swelled at the weekend after his last minute mystery injury withdrawal from the calamitous 1-0 defeat to League One Leeds United left manager Sir Alex Ferguson incensed.

A source close to Vidic’s agent, Silvano Martina, confirmed today that the pair agreed to meet up after the postponed Manchester City League Cup Semi-final first leg clash to discuss the situation.

On the agenda will be the issue of whether Vidic desires an extension to his stay at the club which began in January 2006 following his £7 million move from Spartak Moscow. The 2009 Ballon d’Or nominee’s current contract runs until January 2012.

Owen Coyle Burnley manager has confirmed he wants to become manager of Bolton!
Should Bolton not be aiming for a higher level manager???
I wonder would Andy Grey be a good manager??