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Annual report released

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The club released its 2010 annual report this past Friday (along with a personal letter on the official site from Sheikh Mansour), with the financial results, of course, garnering most interest.

There is plenty of analysis around (which I've linked to below), along with Swiss Ramble's excellent blog on City's finances from a couple of months ago, but the summary of the key elements are as follows:

  • Net loss of £121.3 million (which includes the cost of the summer of 2009 transfer acquisitions), increased from £92.562 million in 2009.
  • Total Income of £125 million. 
  • Corporate partnership revenue increased by £25.9 million to £32.4 million.
  • Conversion to equity of £304.9 million of shareholder loans, leaving £36 million of long term commercial debt.
  • A net transfer spend of £96.6 million.
  • Total wage bill £133 million (up from £83 million the previous year).

It is worth noting of course that UEFA's new directive kicks in from the 2011/12 season, allowing clubs to make only £39 million total losses in the three years to 2013/14. Although to suggest the club are moving blithely towards the deadline without a care in the world is somewhat wide of the mark, with Garry Cook saying: "The last thing we want is not getting a licence to play in the greatest league."

Analysis elsewhere: