Man City 115 charges: Club hit by shattering blow as documents filed
Man City owners – City Football Group – have confirmed huge losses of £127million, Football Insider can reveal.
They published their 2022-23 accounts to Companies House on Thursday (4 April) revealing revenue of £877million but an overall loss of £127million.
City’s shares are majority-owned by CFG, which is a holding company owned by Sheikh Mansour’s Newton Investment and Development LLC in Abu Dhabi.
The CFG sports network consists of 13 football clubs situated across the globe with City at its helm.
As revealed by Football Insider, CFG have informed clubs within their network that they will continue to financially back them regardless of the outcome of Man City’s 115 FFP charges.
Official files reveal Man City chiefs suffered £127m losses
City contributed to the majority of CFG’s income over the 2022-23 accounting period thanks to their treble success under Pep Guardiola.
The Manchester giants set a new Premier League record when they announced revenue of £713million for the 2022-23 campaign.
Individually, City made a profit of £80million thanks to their success on and off the pitch but CFG still suffered huge losses across the other clubs in the network.
Clubs owned by CFG frequently trade resources, including senior staff, training models, data and players
The group have been accused of “stockpiling players” with City signing 36 players from the network who went on to make a total of six Premier League appearances.
In other news, Man City board lambasted by ex-Premier League chief executive after ‘£5m’ green light
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