” With a value of $258 million, Man City, despite a succession of foreign owners, is in free fall. Two-thirds of their stadium revenue goes to the city council, which financed the stadium for the 2002 Commonwealth Games.”
City posted operating income losses of $56 million, the most in the top 20 clubs.
They club valuation declined 17% from last year.
It remains to be seen how much money, Sheikh Mansour bin Zayed Al Nahyan, the owner is willing to lose before he starts clamping down on his blank checks for player transfers and wages. Even an oil rich sheikh cannot ignore such adverse numbers specially if he is controls the Abu Dhabi investment fund.
Manchester City myths: Plunging income