Manchester City Post Profits For The First Time In 7 Years
Since the purchase of Manchester City by Sheik Mansour, the club has been declaring losses until last season.
Manchester City posted theier financial records from the 2014/2015 season and the Etihad outfit made profit of 10.7 million pounds. Manchester City were able to record this profit despite seeing theor gate revenue drop because of their early exits in cup competitions and ongoing expansions at the Etihad Stadium. Manchester City Also paid a fine of 16 million Euros for violating UEFA’s FFP rules but still managed to post profits after cutting wages by over 10 million pounds last season. Manchester City Chairman, Khaldoon Al Mubarak was happy to tell reporters “To put things in their simplest terms, we are now a profitable business with no debt and no outstanding restrictions,”
Manchester City would have to work hard to make profits this season as they have invested heavily on Stadium improvement and spent an excess of 150 million pounds on transfers this summer alone.