The Premier League leaders Manchester City have reported a devastating loss of 126 million pounds for the 2019-20 season which was disrupted by the coronavirus pandemic.
The club posted an 11% reduction in revenue to £478.4m but the figure does not include delayed income from player sales – including proceeds from Leroy Sane’s move to Bayern Munich.
City expect an immediate return to profit for the current season.
A total loss of less than £60m per year is forecast over the two campaigns.
For Financial Fair Play purposes, the financial results of football clubs for 2019-20 and 2020-21 are to be combined into one year.
Chairman Khal-doon Al Mu-barak said the club is “fundamentally strong, with committed shareholders and with significant assets, built carefully over a decade and upon more than a century of history”.
“Our long-term approach has meant that we are now not wholly dependent on income streams that have been most vulnerable to the ongoing impact of Covid-19,” he added.
The Premier League season was postponed between March and June 2020 due to the pandemic, which has since prevented fans from attending games.
Source-BBC
