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Financial results announced

The club have announced the financial results to the year end 31st May 2006. The full document can be downloaded here, but the main points in summary are:

Turnover up by £0.9 million to £61.8 million.

Operating profit up 46% to £5.1 million.

Salaries down to £34.3 from £37.7.

Profit on disposal of players £19.1 million

Net external debt reduced from £38.5 million to £32.2 million.

The press have picked up on a few of Wardle's comments as well - mainly the emphasis he placed on the West Ham cup defeat which of course resulted in the downturn of results over the remainder of the season (and arguably into this season) and certainly lost the club the potential for increased revenue from a higher league position and further FA Cup gate receipts.

Perhaps focusing on the stadium issue - which has been a hot topic in recent times when debating the clubs finances, the results also focused on the additional increased revenue generated from the commercial activities of the stadium (namely concerts and corporate events).

A point which has been picked up as a possible warning shot for Stuart Pearce, Wardle also stated that due to the wage bill that the club operate with "...Premiership survival remains an objective, (but) it alone does not represent a successful season for Manchester City."

And with a potential new TV deal looming on the horizon, it also strikes as even more vital to the clubs future that the unthinkable doesn't happen this season and we end up falling out of the Premier League.