In their quest to win all of the trophies from now until the end of time, and in the process, make Arsene Wenger weep bitter tears of financially conservative frustration, Manchester City have spent a lot of money. So much that they’ve recently posted the largest loss ever by an English club. And you just know they aren’t even that fussed.
When Roman Abramovich came into Chelsea and spent his way to three titles and a Champions League Final appearance, many observers thought it was a unique situation. How many other men had the mixture of love for football and the cash to burn to bankroll such a transformation?
Well, Sheikh Mansour and the oil money of the ruling family of Adu Dhabi have more than even Abramovich did, and they’ve turned City into the highest spending club in the world. As part of that, they’ve posted the biggest single-year financial loss in the history of English football, the the staggering tune of £194.9 million. Which translates to over $307 million American. Which is just nuts.
They have literally (and not Jamie Redknapp literally, but real literally) lost more than the annual gross domestic product of some small nations in the 2010-2011 financial year. And they’re just like “yeah, but it’s not like we’re gonna do it again.”
Our losses, which we predicted as part of our accelerated investment strategy, will not be repeated on this scale in the future.
Because that would just be wasteful.
Full story: The Telegraph