• UK
  • World
    • USA
  • Entertainment
    • Celeb
    • Showbiz
    • Magazine
  • Politics
  • Sports
  • Gaming
  • Tech
  • Science
    • Education
  • Insurance
  • Business
  • Auto
  • ToS/Contact
    • ToS
    • Privacy Policy
    • Contact
NewsExplored
  • UK
  • World
    • USA
  • Entertainment
    • Celeb
    • Showbiz
    • Magazine
  • Politics
  • Sports
  • Gaming
  • Tech
  • Science
    • Education
  • Insurance
  • Business
  • Auto
  • ToS/Contact
    • ToS
    • Privacy Policy
    • Contact
  • Facebook

  • Twitter

  • LinkedIn

  • Tumblr

  • RSS

Sports

Manchester City post £126m loss for disrupted 2019-20 season

Manchester City post £126m loss for disrupted 2019-20 season
Newsexplored
6th April 2021
5
SHARES
ShareTweet
SubscribeRedditGoogleWhatsappStumbleuponPinterestDiggLinkedinTumblrTelegram
Views:
1
Manchester City's Etihad stadium
Manchester City host Borussia Dortmund in the first leg of their Champions League quarter-final on Tuesday

Premier League leaders Manchester City have reported a loss of £126m for the 2019-20 season which was disrupted by the coronavirus pandemic.

The club posted an 11% reduction in revenue to £478.4m but the figure does not include delayed income from player sales – including proceeds from Leroy Sane’s move to Bayern Munich.

City expect an immediate return to profit for the current season.

A total loss of less than £60m per year is forecast over the two campaigns.

For Financial Fair Play purposes, the financial results of football clubs for 2019-20 and 2020-21 are to be combined into one year.

Chairman Khaldoon Al Mubarak said the club is “fundamentally strong, with committed shareholders and with significant assets, built carefully over a decade and upon more than a century of history”.

“Our long-term approach has meant that we are now not wholly dependent on income streams that have been most vulnerable to the ongoing impact of Covid-19,” he added.

The Premier League season was postponed between March and June 2020 due to the pandemic, which has since prevented fans from attending games.

Chief executive Ferran Soriano said: “Clearly, the 2019-20 accounts in isolation are not the best representation of the reality of the season with delayed player trading and numerous games being played after 30 June 2020, the revenues from which will be accounted in the 2020-21 period.

“A better financial picture of the Covid years will be provided at the end of the 2020-21 season, when the two seasons are combined and normalised.”

City, who are 14 points clear of closest Premier League challengers Manchester United, are competing for four trophies in the latter stages of the 2020-21 campaign.

data-ad-format="auto">

‘City will still have money to spend’

Analysis by BBC Sport’s Simon Stone

This is another eye-watering loss for a major Premier League club, which underlines once again the enormous financial impact of the coronavirus pandemic on English football.

There are a couple of reasons why the £126m figure is not as startling as it would appear.

City’s playing season finished after these accounts were submitted. Unlike every club except Chelsea, that meant overall income from the Champions League is not included – and City reached the quarter-finals. Just for getting to that point from the last 16, City netted roughly £10m.


In addition, the club record deal that saw Leroy Sane join Bayern Munich for an initial £44.7m that could rise to £54.8m was concluded in July, so that is not included either.

Most fans will want to know what it means for City’s chances of buying players in the summer. The answer is, City do have money to spend on the right players.

That does not mean manager Pep Guardiola was being disingenuous on Friday when he said the club may not necessarily buy a striker, even though he wants one, but in City’s view the market has been readjusted due to Covid and they do not believe the huge numbers being speculated for players such as Borussia Dortmund’s Erling Braut Haaland are likely to materialise.

Evidently, if they feel they need a player in a certain position, they will try to get him but at a figure they consider to represent value for money.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Google+ (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Share on Skype (Opens in new window)

Related

Related Itemsdisruptedmanchesterseason
Click to add a comment

Leave a Reply

Cancel reply

Your email address will not be published.

Sports
6th April 2021
Newsexplored @newsexploredweb

Related Itemsdisruptedmanchesterseason

More in Sports

  • Read More
    Garth Crooks’ team of the week: Johnstone, Alexander-Arnold, Dallas, Lingard, Pulisic, Saint-Maximin

    Views:1 Manchester City suffered a shock 2-1 home defeat against Leeds and Manchester United are now 11...

    Newsexplored 6th April 2021
  • Read More
    Brighton 0-0 Everton: Seagulls edge towards Premier League survival with goalless draw

    Views:1 Neal Maupay had two of the game’s best chances Brighton edged a point closer to Premier...

    Newsexplored 6th April 2021
  • Read More
    West Brom 3-0 Southampton: Baggies beat Saints for second straight win

    Views:1 Matt Phillips doubled West Brom’s lead with just his second goal of the season West Brom...

    Newsexplored 6th April 2021
  • Read More
    McGregor v Poirier 3: Conor McGregor tells Dustin Poirier trilogy fight is ‘off’

    Views:1 Poirier secured a TKO win over McGregor in the second round of their January rematch Conor...

    Newsexplored 6th April 2021
  • Read More
    England v Canada: Lucy Bronze doubtful for friendly

    Views:1 Bronze won best women’s player at Fifa’s 2020 awards Date: Tuesday 13 April Kick-off: 19:15 BST...

    Newsexplored 6th April 2021
  • Read More
    Prince Philip: EFL, Premiership Rugby and horse racing schedules moved to avoid clash with funeral

    Views:1 There was a two-minute silence before all of this weekend’s games in the EFL and players...

    Newsexplored 6th April 2021
  • Read More
    British Judo conducting investigation into coach arrests

    Views:1 British Judo is investigating a number of cases in which coaches have been arrested for sexual...

    Newsexplored 6th April 2021
  • Read More
    Tottenham to hold review after Son Heung-min suffers racist abuse

    Views:1 Son Heung-min scored the opening goal of the game in his side’s 3-1 defeat by Manchester...

    Newsexplored 6th April 2021
  • Read More
    Shaunagh Brown column: England will rise to the occasion in the Women’s Six Nations final

    Views:1 In her second BBC Sport column of the 2021 Women’s Six Nations, England prop Shaunagh Brown...

    Newsexplored 6th April 2021
  • Read More
    Masters 2021: Hideki Matsuyama claims one-shot victory at Augusta National

    Views:1 Hideki Matsuyama becomes the first Japanese man to win a major -10 H Matsuyama (Jpn); -9...

    Newsexplored 6th April 2021
  • Read More
    Sheffield United 0-3 Arsenal: Gabriel Martinelli scores in deserved Gunners win

    Views:1 Lacazette’s goals were his 12th and 13th in the Premier League this season and his fourth...

    Newsexplored 6th April 2021
  • Read More
    Jesse Lingard: Will West Ham loanee be an England starter at Euros?

    Views:1 Jesse Lingard joined West Ham United on loan in January very much a forgotten man. He...

    Newsexplored 6th April 2021
Scroll for more
Tap
data-ad-format="auto">
NewsExplored

NewsExplored - Making sure all the latest news is explored?

Contact us for help

  • Popular

  • Latest

  • Comments

  • The UK professor and the fake Russian agent
    UK26th March 2021
  • Atlanta spa shootings: How we talk about violence
    USA19th March 2021
  • Deshaun Watson: Houston Texans quarterback being investigated by police amid 21 civil lawsuits
    USA3rd April 2021
  • Arsenal 0-3 Liverpool: Diogo Jota scores twice in Premier League win
    Sports3rd April 2021
  • Tiger Woods car crash: Golfing great drove at almost double the speed limit
    USA7th April 2021
  • Georgia voting: Fact-checking claims about the new election law
    USA7th April 2021
  • Deshaun Watson: Houston Texans quarterback being investigated by police amid 21 civil lawsuits
    USA3rd April 2021
  • Derek Chauvin trial: Why role of TV cameras could come into focus
    USA28th March 2021
  • Les Rehrer says:

    Hello Its me :P and thanks for this post

  • optumrx login says:

    Thank For News.

  • Kent Laatsch says:

    Please let me know if you're looking for a writer…

  • Bob says:

    RT News was where I learned that Erdogan controlled isis.…

Copyright © 2018 Top News Theme. Theme by MVP Themes, powered by Wordpress.

Masters 2021: Breaking Jack Nicklaus’ record would be special, says Lee Westwood
Masters 2021: Bryson DeChambeau excited by ‘secret’ club for Augusta National title tilt
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok