Friday, October 01, 2010

Manchester City reveal financial losses of £121m

Manchester City have announced losses of £121m for the 12 months leading up to 31 May this year, having spent more on wages than their entire turnover.

The financial losses, up from £92.5m for the previous year, represent one of the heaviest in Premier League history.

Chief executive Garry Cook says City will now scale back on new signings.

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