Have you ever wondered about what kind of money is involved in professional football? We all read stories about transfer figures and how much certain footballers earn in a week. It always sounds as though clubs are swimming in money doesn’t it?
In the run up to this Christmas, especially in these financial times, we might all be watching the pennies a bit more. We might go to one less party in Shrewsbury over the festive season this year. We might buy a few less presents or decide not to send cards.
But one premier league football club clearly hasn’t been saving the pennies and has just announced a loss of epic proportions.... Manchester City FC has recently published their accounts for the year ending 31st May 2011 and they show a staggering loss of £197,000,000.
Tim Corfield, MD of Shrewsbury based insolvency practitioners Griffin&King, knows all about keeping an eye on figures. He has been seeing how the numbers in the financial league table of England's leading football clubs stack up.
He said of the Manchester City FC: “This is the biggest loss in English Football history. I had a look at how this compares to other top English clubs and the findings are below.”
CLUB PROFIT/LOSS WAGE BILL
Arsenal £56m Profit £125m
Manchester United £29.7m Profit £152m
Tottenham £.5m Profit £67m
Liverpool £20m Loss £90m
Chelsea £78m Loss £172m
Manchester City £197 Loss £174m
An interesting read, for sure....
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