Financials are out! | Annual Report 2012/13

[AG7]

Manchester City has today released its Annual Report for 2012-13.

The detailed document highlights the continued growth and wide ranging achievements across all areas of the Club over the past season. It also includes the full financial record for the 2011-12 year.

The report reveals that the Club has almost halved its losses for the second consecutive season, posting a net loss of £51.6m, down from £97.9m in the previous reporting period with annual turnover at £271m, breaking the £250m threshold for the first time in the Club’s history. The Club is also for the first time, operating with zero financial debt having paid off all remaining borrowings.

In the report, Chairman Khaldoon Al Mubarak speaks of optimism and of a “renewed sense of confidence for the future”, noting that on and off field success has “generated significant commercial opportunities for the organisation and underpinned a strong momentum for the years ahead.”

Chief Executive Ferran Soriano echoes these sentiments, citing the continued transformation of the organisation and the resulting significant strides made in both loss reduction and increased turnover, saying “ growing revenues and controlled expenses are bringing the Club to break even in the immediate future and profitability thereafter.”

DOWNLOAD the full report here: http://content.mcfc.co.uk/~/media/Files ... age_16.pdf

[kjchronic]

Not bad then. Few people that won't be pleased to see us progressing so well.

These don't include things like new TV money etc yet does it? (Guessing that's 13/14 onwards?)

[bobby brows]

Dazby's preview and Accounts downloaded for the bus ride home.

[Bleed_Blue]

Not bad then. Few people that won't be pleased to see us progressing so well.

These don't include things like new TV money etc yet does it? (Guessing that's 13/14 onwards?)

Profits on the cards next year

[ruralblue]

Proper chuffed but cannot say surprised as we were always going in this direction with the people we have running the place!!!

Is there enough in the pot for one big centre back signing before friday?

[bigblue]

Not bad then. Few people that won't be pleased to see us progressing so well.

These don't include things like new TV money etc yet does it? (Guessing that's 13/14 onwards?)

Profits on the cards next year

Especially if we can beat Barca or win the league. If not, I expect us to beak even or post a sub £10 mil loss.

Overall it's a very encouraging report, a credit to the business development department of the club, and a big fuck off to those calling us a oil man's play toy. Our social media strategy, worldwide marketing, and branding (City in the Community, NYCFC...) efforts would make excellent case studies in the HBR. And I seriously doubt PSG, Monaco, Chelsea, or any similar team have the business talent to match our growth and keep pace with where we are heading in 5-10 years.

We've now completely paid off any debt that we had, something that the rags have been unable to do in 2x the amount of time. Where will the righteous indignation from the rags, scouse, and pockets of FIFA/UEFA go once we are self sustainable in 12-18 months?

[Peter Doherty (AGAIG)]

No debt.

[Crossie]

Great news. I'm sure I read that it will have cost 1 billion pounds to basically catch up to the rest, pay off debts, sustain it and expand the stadium. We can then take ourselves to a whole new level.

[Beefymcfc]

Not bad, not bad indeed.

[Dameerto]

I would place a big bet on us being in profit at this moment in time. I wonder if that saddo with his app is crying into his Horlicks tonight.

[Goaters 103]

Its the no debt thing that weedles all over the negative nellies. Debt is zip, zero, nada, nothing - nuff said really.

[Blackadder]

That loss is just about the combined transfer fees paid for Jones, Smalling and Fellatio. Or Rooney's latest contract, take your pick.

[bobby brows]

I think the key is that we are no longer playing catch up. City have become some players first choice. We have the contacts now and don't necessary have to pay top dollar in wages or transfer fee. When I met Brian Marwood he said we signed players on the promise of the Champions League and had to pay them that money up front.

Now players like Negredo, Navas and Jovetic will come for the challenge that is playing for City rather than solely for the wage packey (thats you Adebayor). In addition City don't get caught up in the bile or front page headlines ala Rooney, Taggart, Smalling etc and try to behave in a professional manner, sponsors lap up being associated with high class like the Sheik rather than the cowboys down the road. the 'tourists' can associate with a side like ours, they pick a team cos they like what they see on the field, at the end of the day doens't matter who says Phil Jones is the best in the land, you still have to watch him play.

Best of all ticket prices haven't gone through the roof, there have been increases yes, but it could have been Arsenal proportions and put a lot off.

[sweenyuk]

Best of all ticket prices haven't gone through the roof, there have been increases yes, but it could have been Arsenal proportions and put a lot off.

For me ticket prices need to stay affordable, but the sponsors we attract are not after the man on the street, so not sure how important filling a ground is these days, lets just hope that common sense rules

[john@staustell]

Have we dealt with Soriano's speech this week yet? Apologies if so. No sign of this in the RAG press or SKY of course!

http://www.manchestereveningnews.co.uk/ ... ty-6697905

Manchester City chief says City to "break even" this season
11 Feb 2014 22:00

Blues executive Soriano tells Dubai conference that the Blues will have fifth biggest revenue in world football this year

City chief executive Ferran Soriano says the club will “break even” this season after becoming the fifth biggest money-maker in world football.

The Blues boss also told reporters during a trip to Dubai that he had no worries that they will meet the requirements of UEFA’s financial fair play rules, despite recording a loss of £51.6million last season.

Soriano said that the club’s spectacular rise through the ranks of the money league – which reflects their rise in football terms – will continue, so that by the end of this season, only Barcelona, Real Madrid, Bayern Munich and United will be generating more cash.

“We are working towards breaking even this season,” he said.

Soriano also refuted the idea that City’s losses will mean that they are in breach of UEFA rules, which would carry the ultimate sanction of being banned from European competitions.

“There are a lot of reliefs that can be taken for investment in youth football and old investments.”

UEFA’s rules allowed clubs losses of around £37million for the last two seasons, and the BLues recorded figures in the red by around £150million

That loss included money spent on infrastructure development, and on wage commitments made prior to June 2010, neither of which count towards FFP, and it is believed UEFA will give leeway to clubs who are making definite inroads into their imbalance.

City’s focus on increasing their global profile, which has brought several lucrative deals, boosted their revenue to £271million last season, and that is on course to bump up to a staggering £331million.

That revenue increase has been slicing into the losses which the club incurred due to major investment.

In the last three seasons, losses were halved from £197million to £98million and again to £51.6million.

[Peter Doherty (AGAIG)]

Thanks for posting that, John. It would seem we are being run by people who know what they're doing. What a pleasant change....

[mcfc1632]

Yes - the Peter Swales days seem a very distant memory