dutchman
Well-Known Member
Manchester City have become the first Premier League club to disclose an annual wage bill in excess of £200million after posting a net loss of £97.9million for the year ending May 31, 2012.
The annual report also reveals a payment of £500,000 “compensation for loss of office” to former chief executive Garry Cook, who left in September last year following an unsavoury email exchange relating to the cancer-stricken mother of former City defender Nedum Onuoha.
The club increased turnover to £231.1m, from £153.2m, and last year’s loss of £197.5m was more than halved.
However, the price of winning the Premier League title last season came at a cost of £201.7m in wages – a rise of £27.8m in 12 months. Chelsea, whose wage bill for the 2010-11 season was revealed to be £191m, have yet to disclose how much they paid their playing staff for the Champions League-winning 2011-12 campaign.
Manchester City's rapidly growing commercial income rose to £112.1m from £57.8m, with the £40m a year deal with Etihad Airways – incorporating stadium, shirt and campus naming rights – and the club’s first Champions League earnings sending the figure through the £100m barrier.
Despite the commercial growth, the financial results show only marginal increases in gate receipts and television revenue.
Read more: http://www.telegraph.co.uk/sport/fo...ions-wage-bill-breaks-200million-barrier.html
The annual report also reveals a payment of £500,000 “compensation for loss of office” to former chief executive Garry Cook, who left in September last year following an unsavoury email exchange relating to the cancer-stricken mother of former City defender Nedum Onuoha.
The club increased turnover to £231.1m, from £153.2m, and last year’s loss of £197.5m was more than halved.
However, the price of winning the Premier League title last season came at a cost of £201.7m in wages – a rise of £27.8m in 12 months. Chelsea, whose wage bill for the 2010-11 season was revealed to be £191m, have yet to disclose how much they paid their playing staff for the Champions League-winning 2011-12 campaign.
Manchester City's rapidly growing commercial income rose to £112.1m from £57.8m, with the £40m a year deal with Etihad Airways – incorporating stadium, shirt and campus naming rights – and the club’s first Champions League earnings sending the figure through the £100m barrier.
Despite the commercial growth, the financial results show only marginal increases in gate receipts and television revenue.
Read more: http://www.telegraph.co.uk/sport/fo...ions-wage-bill-breaks-200million-barrier.html