Article by January 10, 2010
The January 6, 2010, the site of Manchester City has announced the financial results for the season 2008/2009. The reading of this document will clearly create a structural imbalance main loss record, which can be tackled only through the efforts of billionaire Sheikh Mansour, who after one year from the club has changed course in the funding strategy of the same club , from shareholders' loan capital increase. The same choice was made by Abramovich's Chelsea. Certainly, to align to the calls of Michel Platini, on the indebtedness of the club.
in the press release it was noted that the year ended May 31, 2009 marked the beginning of a period of significant investment in all areas of activity the Club, namely: the football team, the youth Academy, infrastructure, website. And these had a significant impact on the financial results for the year in question and will continue to exert their effects even in the years to follow. The goal that we propose is to achieve success in the field and off the field.
turnover to May 31, 2009 increased by 6% as the figure of 87.0 million pounds ($ 96.7 million at an exchange rate of € 0.90), in fact in 2008 was EUR 82.3 million of pounds (91.4 million euro). However, this increase is offset by a significant increase of 44.46% of operating costs that have reached the figure of 121.2 million pounds (134.7 million euro), compared to 83.9 million pounds (93.2 million euro) in 2008. The main cause is due to the increase of personnel expenses (including players).
The result was an operating loss of 34.2 million pounds (38 million euro), far worse than that of 2008 which marked a loss of 1.6 million pounds (1.8 million €).
Costs related to the amortization of players' contracts have increased during the year. This increase resulted reaching the figure of 39.4 million pounds (43.8 million euro), compared 25.4 million pounds (28.2 million euro) last year and again reflects the costs of building "from scratch" in the team. Borrowing costs have risen significantly because of the higher level of debt, shareholder loans mostly used to finance investment.
After the calculation of depreciation of players' contracts and financial charges, net loss was exposed to 92.6 million pounds (102.88 million euro) and in 2008 the loss amounted to 32.6 million pounds (36.2 million euro).
The average attendance of spectators at the races played at home was 42,890 an increase of 1, 92% of the average of 42,081 the previous season.
revenues from ticket mark an increase of 1.8 million pounds, thanks to the UEFA Cup competitions.
revenues from TV rights, representing 55.5% of total revenues, increased 12% to the figure of 48.3 million pounds (53.7 million euro), partly because earnings UEFA Cup, which offset the slight decline in income from the Premier League.
Revenues from other businesses, which account for 26.78% of total revenues, decreased by 8%, recording a figure of 23.3 million pounds (25.9 million euro). This decrease is mainly due to lower revenues from "events", because, year 2007/2008, have been organized events like the UEFA Cup final (May 14, 2008, Zenit St. Petersburg 2-0 Glasgow Rangers) music concerts and a big event in boxing. In the face of falling revenues from events, there were increases in other components of the voice revenue from other businesses.
Manchester City have confirmed that after the year end, the club's owner Sheikh Mansour has converted into shares his claim against the club amounted to 304.9 million pounds (338.8 million euro). Sheik Mansour has also purchased other shares worth 89.6 million pounds (99.6 million euro). According to the release of the City, as described above testifies to the long-term commitment to the club of Sheikh Mansour.
Luca Marotta
