|
Manchester City's debts have increased to £50m following heavy investment in the team. The club's wage bill rose from £24m to £35m last season. However, the club has emphasised the situation is different from that at Leeds. The debts are secured against the club's new City of Manchester stadium. Managing director Alastair Mackintosh commented, 'The debt is well-structured. Leeds' situation was different because there was no new stadium and the players were the security. City made operating profits of £1.7m against losses of £5.9m in the previous year, but pre-tax losses rose from £13.9m to £15.4m after player trading.
|
