Financial Fair Play: Man City report net loss of €63 million in 2012-13 but remain confident

Manchester City (Premier League) announced a record turnover of €271M (£330M) in 2012-13, a 17.3% increase in comparison to the 2011-12 season (£231M, €281.6M), the club announced during the presentation of its 2013 annual results (from the 01/06/2012 to the 31/05/2013) on the 29/01/2014.

The “Sky Blues” benefited from a 33% increase of their commercial revenues, from £107M (€130.5M) in 2011-12 to £143M (€174.3M) in 2012-13. The club generated "significant commercial opportunities for the organisation and underpinned a strong momentum for the years ahead,” City president Khaldoon Al Mubarak explained on the 29/01/2014. CEO Ferran Soriano added: "Growing revenues and controlled expenses are bringing the club to breakeven in the immediate future and profitability thereafter."

Man City posted net losses of £51,6 M (€62,9 M) in 2012-13, half those of 2011-12 (97,9 M£, 119,3 M€). Man City posted net losses of £194M (€236.6M) in 2010-2011.

In spite of a cumulated net loss of €182.2M during the 2011-13 period, which is higher than the €45M authorised by UEFA (Union of European Football…