Sheikh Mansour bin Zayed Al Nahyan The owner of Manchester City

Advertise

The Sun claims the City owner's family, Sheikh Mansour bin Zayed Al Nahyan has a total value of wealth to reach 560 billion pounds, or around Rp 825 trillion. Of the money, Mansour, kindly granting 305 million pounds (about USD 4.5 trillion) to clear the debt burden City. This was revealed in financial reports City, Tuesday (5/1/2010). It is the first time City reveals financial reports to the public, since Mansour took over City in August 2008 ago. Just a note, according to The Sun, Mansour bought City at a price of 210 million pounds, or around Rp 3.1 trillion. That does not include running the transfer budget of 200 million pounds, or about Rp 2.9 trillion. Mansour's willingness to repay City, other than to prove the commitment and ambition, also a form of appreciation to club management performance increase club revenue. When taken over, the City only recorded a revenue of 82.3 million pounds, or about Rp 1.2 trillion. Once taken over, the value was increased six per cent, to 87 million pounds or reach nearly USD 1.3 trillion.
Even so, the City itself has not been in the break-even point. According to the report, the City still suffers a loss of 92.6 million pounds, or almost USD 1.4 trillion reached. This is the biggest losses in British football history. The financial statements reflect the progress of a period of rapid change this club. This is all thanks to the long planning and investment board of directors and owners to create a solid business for the future, "said Head of Economic City, Graham Wallace. "The decision to pay off the debt owners in line with their financial strategy and this is fantastic news for Manchester City supporters, that the club is in a secure financial foundation, which provides excellent reference for future development," he continued. Meanwhile, through the lens of professional competition, City of debt shows the hull of their seriousness to compete in the European stage. This is related to the rules "Financial Fair Play" which will take effect next UEFA 2012. Conditions were set, the club that has a debt burden should not follow the European competition

Adverise