SOURCE: THE BALL IN CONFUSION
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Saturday, July 31, 2010
That rose Manchester City which cost much
The analysis of the budget 31 May 2009, closed with a loss of 89.7 million pounds, the company of Sheikh Mansour reports that the cost of players' salaries, depreciation and amortization totaled 122 million against a turnover of 87 million
One companies will have to deal with the "Fair Play" is without doubt the financial UEFA Manchester City, which shows a strong structural imbalance in the economic point of view: compared with a turnover of 87 million pounds, the players rose costs £ 122 million in wages and depreciation. Manchester City Football Club Limited is a company which deals with the management eponymous English professional football club. On May 31, 2009, it appeared that the ultimate controller of the company was Abu Dhabi United Group Investment & Development, a company registered in Abu Dhabi and headed by Sheikh Mansour. The company included Manchester City Limited as a holding mid-term, parent company of Manchester City Football Club Limited. Among the subsidiaries of the latter were: Manchester City Investments Limited operates as a holding company and Manchester City Property Limited operates in real estate.
From the financial statements of Manchester City Football Club Limited, relating to the 2008/2009 season, as mentioned above, shows a structural imbalance main loss record, which led to negative equity for 42 million pounds, or approximately 50 million (euro exchange rate: 1 EUR = 0.8414 GBP). On 31 May 2009, the loss recorded was 89.7 million pounds (106.6 million euro), while the previous year the loss was 29.7 million pounds (35.2 million euro).
administrators argued the year ended May 31, 2009 marked the beginning of a period of significant investment provided in all areas of club activities, namely: the football team, the Academy, infrastructure, technology services and web site for the fans. 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 5.76% by adjusting the amount of 87.0 million pounds ($ 103.4 million €), in fact, in 2008 the turnover was 82.3 million pounds (97 , € 8 million).
revenues from TV rights, which representing 55.45% of total revenues, increased by 11.57% to the figure of 48.3 million pounds (57.3 million euro), partly because of the proceeds from the UEFA Cup, which offset the slight decrease in income from TV rights to Premier League.
revenues from commercial activities, which account for 26.8% of total revenues, decreased by 8%, recording a figure of 23.3 million pounds (27.7 million euro). This decrease is mainly due to a reduction in revenues from "events", because, year 2007/2008, have been organized events like the UEFA Cup final, music concerts and a great event for boxing. Against the decrease in revenues from events there have been increases in other components of that item of income. The revenues from competitions have increased by 13.2% from 13.6 million pounds (16.1 million euro) to 15.4 million pounds (18.2 million euro). The average attendance of spectators at matches played at home was 42,890 an increase of 1, 92% of the average of 42,081 the previous season. The increase in revenues from ticket of 1.8 million pounds, mainly due to UEFA Cup competitions. Other revenues amounted to 95 thousand pounds affect only 0.11% of total turnover.
increase in sales is offset by a significant increase in the 44.5% of operating costs, which reached the figure of 121.2 million pounds (144.1 million euro), compared to 83.9 million pounds (99.7 million euro) in 2008. The main cause is due to the increase of personnel expenses.
The cost of staff marks the figure of 82.6 million pounds (98.2 million euro) with an incidence of about 95% of sales. In 2008 these costs amounted to 54.2 million pounds (64.4 million euro) and had an incidence of 65.89% of sales. The increase was 52.40%. From the numerical point of view, the staff increased from 258 units in 2008 to 302 units in 2009.
Costs related to the amortization of players' contracts have increased during the year. This increase resulted reaching the figure of 39.4 million pounds (46.8 million euro) against 25.4 million pounds (30.2 million euro) last year and again reflects the costs for the construction "from scratch" in the team.
financial charges amounting to 14.4 million pounds (17.2 million euro) increased significantly over the previous year, registering an increase of 87, 79%, due to the higher level of shareholder loans to activities during the year. In fact, the interest payable to banks totaling £ 1.6 million an increase of 17.35%, while interest on other loans amounting to 12.6 million pounds are increased by 102.27%.
The total assets has increased by 35.25%, from 248.5000000 to 336.1000000 pounds, supported by a strong increase in net gross of 63.62%.
Intangible assets, net amounted to 131.8 million pounds (156.6 million euro). Compared to the previous year registering an increase of 188.02%. Sign of the strong investment made in the squad players.
Net tangible fixed assets amounted to 175.3 million pounds mark a decrease of 2.86%. They consist of: full ownership of land and buildings for £ 3.5 million, leasing land and buildings in the short to 516 000 pounds, land and buildings in long-term lease for 162.8 million pounds, construction in progress payments to account for 1.2 million pounds and furniture and equipment for 7.2 million pounds. On August 5, 2003 the old stadium "Maine Road" was mistaken for a Lease for 250 years the stadium of Manchester City. " The contract was designed like a finance lease, with a particular mechanism is also based on the average appreciation of the audience. Current assets amounted to 29 million pounds (34.5 million €). Among these activities predominate in cash for 18.6 million pounds (22.2 million euro).
On the liabilities side there is a negative equity for 42 million pounds debt by 365 million pounds (434.5 million euro) and deferred income for 12.5 million pounds. During the year 380,315 ordinary shares of £ 1 was issued at a price of 119.19 pounds per share. The total consideration was £ 45,329,000 and the prize of 44,949,000 was included in the share premium account.
debts as said marking an increase of 63.62% over the previous year, which marked the figure of 223.4 million pounds (265.6 million euro). Among the debts with less than year, amounting to 282.7 million pounds (336 million euro), outstanding payables to shareholders for 194.4 million pounds (231 million euro). The partners have increased their funding to the club of 141.5 million pounds (168.2 million euro). The long-term debt, amounting to 82.9 million pounds (98.5 million euro), are essentially unchanged from the previous year (83.6 million pounds). Among these debts outstanding payables to the leasing of the stadium of Manchester City "for the amount of 43 million pounds (51 million euro). The amount of 414 thousand pounds of that debt is shown between the short-term debt: the total amount is 43.4 million pounds. I deferred to anticipated revenues amounted to 12.5 million pounds (14.9 million euro, marking a decrease of 14%.
Among the events that occurred after May 31, 2009, are reported as the purchase of various players Roque Santa Cruz (Blackburn Rovers), Gareth Barry (Aston Villa), Emmanuel Adebayor (Arsenal) Carlos Tevez (Manchester United), Kolo Toure (Arsenal) Joleon Lescott (Everton) and the supply of Elano Blumer (Galatasaray), Ricahrd Dunne (Aston Villa), Tal Ben-Haim (Portsmouth), Gelson Fernandes (Saint Etienne). The amount net investment was 117 million pounds (139 million euro).
Luca Marotta
jstargio@gmail.com
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