Member Article

Manchester City curb losses to £51.6 million

Manchester City FC have reported net losses of £51.6 million for the 2012-2013 season, nearly halving its £97 million loss the year before.

Revenues at the club grew to £271 million, breaking the £250 million threshold for the first time in the club’s history.

Matchday revenue increased by 12%, which the club said reflected an ongoing demand for memberships, tickets and hospitality.

An increase in the number and value of sponsorship contracts, including Etihad, EA Sports and Richard Mille, mean commercial revenues increased by 33%.

Financial bosses at Man City renegotiated the finance lease on its Etihad Stadium during the season and the annual report said the club was on target to open the new ‘City Football Academy’ before the 2014-2015 season.

The club’s CEO, Ferran Soriano, said: “Manchester City has made a number of improvements to its commercial strategy and organisation. This has included a significant expansion of our commercial partnerships team that has enabled us to better meet the needs of our existing partners while establishing new relationships around the world.

“We have also invested significantly in the digital content area, with new offerings for our fans and exciting developments to come.

“The Club has also continued to invest in its infrastructure and match day capabilities. The addition of WiFi to the Etihad Stadium will enable us to radically improve the experience of watching football for our supporters.

“We are also conducting a public consultation on the potential expansion of the Etihad Stadium to a capacity of 54,000 and in time up to 60,000. I believe these initiatives will strengthen the reputation of the Etihad Stadium as one of the best venues in England and in Europe.”

This was posted in Bdaily's Members' News section by Tom Keighley .