Man City set for big-spending summer amid £126m announcement - Maguire
David Silva’s exit has given Man City the wiggle room to continue spending big in the transfer market despite posting eye-watering annual losses.
That is according to finance expert and Football Insider columnist Kieran Maguire, speaking exclusively after City announced a £126million loss on Tuesday.
Overall revenues shrunk by 11 per cent to £478.4m for the year ending 30 June 2020 as the loss of matchday income and broadcast rebates hit home.
The 2019-20 campaign was David Silva’s last in City colours after a decade-long stretch replete with silverware.
He left for Real Sociedad and his departure – as well as Leroy Sane’s to Bayern Munich – will allow City to continue to splash the cash, claims Maguire.
“I anticipate improvement in the figures,” he told Football Insider correspondent Adam Williams.
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“First of all, there’s the sale of Leroy Sane. They don’t have his or David Silva’s wages to deal with either. So there are savings to be made there.
“Part of the reason that revenues fell by 11 per cent is that they produced their accounts up to the 30 June. That only included 33 Premier League games because some took place after that date.
“In their next set of accounts, it’s likely to be over 40 games. And if they do make more progress in the Champions League, that will add to the coffers too.
“This is Manchester City we’re talking about here. I can’t imagine spending grinding to a halt.”
Silva, 35, turned out 436 times for City between 2010 and 2020.
The club have plans to erect a statue of Silva alongside fellow City icons Vincent Kompany and Sergio Aguero.