Manchester City Halves Annual Loss as Revenue Rises to Record
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Manchester City, the sixth-richest soccer club, cut its annual loss in half for a second straight year as revenue rose to a record, thanks to a boost in income from commercial activities.
The 2012 Premier League champion, which is owned by Abu Dhabi’s Sheikh Mansour bin Zayed Al Nahyan, reduced its loss by 47 percent to 51.6 million pounds ($85.4 million) in the year to May 31, 2013, the club said in a statement on its website yesterday. It had a loss of 197.5 million pounds in 2010-11.