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Friday, July 1, 2022

Man City Put Brakes On Spending

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Manchester City chief executive Garry Cook has revealed the club are unlikely to repeat their big-money spending in the near future.

City have continued to splash the cash in the transfer market since the purchase of the club by Arab billionaire Sheikh Mansour in 2008, spending a towering £127million on new players in just the last nine months.

Their latest acquisition came in the shape of £27million striker Edin Dzeko from Wolfsburg in January, while the Premier League giants have also brought in high-profile stars such as Jerome Boateng, David Silva, Yaya Toure, Alexander Kolarov, Mario Balotelli and James Milner.

City revealed in October they had made a pre-tax loss of over £121m for the last financial year, which goes against new Uefa regulations being brought in across Europe.

The strict financial fair-play rules mean clubs must work towards breaking even over the next six years or face being banned from competing in the Champions League and Europa League.

But City chief Cook insists the club are unlikely to emulate their big-spending ways now they have the quality to compete for silverware at domestic and European level.

He told the Daily Star: “As the club continues to assess the level of investment required to compete at the highest level, it does so whilst pro-actively engaging with all relevant stakeholders involved in the evolving debate around how to create greater commercial sustainability within football clubs.

“It is also fair to say that the scale of the club’s recent investment in the transfer market is unlikely to be repeated in the near future now that the playing squad is of a sufficient quality and depth to be competitive in both England and Europe.”

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Man City Put Brakes On Spending

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