Finance guru: Man City pointing finger at nine other clubs after £61m loss confirmed
The other nine clubs besides Man City in City Football Group are to blame for the conglomerate’s £60.9million annual loss.
So says finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about the group’s accounts for the 2020-21 financial year.
In the figures published last Friday (4 March), City Football Group revealed a £60.9m shortfall for the 12 months ending 30 June 2021.
Revenue across the 10-strong portfolio of teams over that period was £624.5m, up on £544m the previous year.
City posted a £4.8m profit in their own accounts for 2020-21, which were released in January.
And Plumley claims that the group’s overall deficit was due to the supporting cast in City Football Group.
“Man City are the biggest operation in City Football Group,” the Sheffield Hallam University expert told Football Insider‘s Adam Williams.
“They generated a profit with big growth in commercial revenue. The impact is coming from some of the other clubs in the group.
“When you add all those together, that’s where the loss is coming from. You also have to factor in the pandemic as part of what is dragging revenue down.
“Girona, who are part of the group in Spain, were also relegated before this season. So there was a loss of broadcast income in that season.
“Not all the group companies are performing to the same level as City.”
New York City, Troyes, Melbourne City and Mumbai City all won honours in 2020-21.
Man City were crowned Premier League champions and reached the Champions League final in the same season.
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