Manchester City reports record loss of 197 million pounds

Updated: 18 November 2011 20:38 IST

Manchester City reported a massive loss of 197 million pounds on Friday, surpassing the previous highest loss in the history of English Premier League, that of 141 million pounds suffered by Chelsea in 2005.

Manchester City reports record loss of 197 million pounds
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London:

Manchester City reported a massive loss of 197 million pounds on Friday, surpassing the previous highest loss in the history of English Premier League, that of 141 million pounds suffered by Chelsea in 2005.

The figure, according to Britain's Guardian newspaper, is for the most recent financial year and is being attributed to buying players to make the team strong enough to battle for the title.

The club, owned by oil-rich Sheikh Mansour bin Zayed al-Nahyan, signed Jerome Boateng for £10.5m, Edin Dzeko for £27m, David Silva for £26m, Yaya Toure for £24m, Aleksandar Kolarov for £19m, Mario Balotelli for £24m and James Milner for £26m, in what totaled in at 156.5 million pounds, according to the same report.

Mansour had earlier said that he would spend a fortune if it assured him of a successful club and has now spent an unprecedented 800 million pounds on the club.

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