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Premier League: Manchester City chief exec confident over finances as club eye Porto duo on deadline day


Manchester City chief executive Ferran Soriano has claimed that he expects the English Premier League club to break even “in the immediate future” despite posting a net loss of £51.6m (€62.6m/$85.4m) for the 2012-13 financial year.

 City to reduce its net loss from £97.9m the previous year with a record £271m turnover, and the club have also claimed that they are operating without any debt for the first time, having paid back any borrowings from lenders.

 City’s commercial income has continued to grow, reaching £143m in the latest annual accounts, which were released on Wednesday, just before City went top of the league with a 5-1 thrashing of Tottenham at White Hart Lane.

Since being acquired by the Abu Dhabi United Group investment company in 2008, the club embarked on spending spree previously unseen in world football, acquiring players such as Robinho, Emmanuel Adebayor, Yaya Toure and Sergio Aguero amongst others for large transfer fees.

But with UEFA's Financial Fair Play looming, some are worried about City's longevity at it's current standing, with the governing body promising harsh sanctions on club who fail to meet FFP requirements.

Despite this, City look as though they might be splashing the cash again on deadline day as they look to sign Porto duo Eliaquim Mangala and Fernando.

France defender Mangala, 22, is rated at £35m and is one of Europe's most coveted talents, while Brazilian Fernando, 26, would add to City's considerable midfield resources.

With the possibility of more big money signings on the way, City could be accused of being gung ho with their approach to finances, but Soriano is not worried.

“The club continues to grow while maintaining a path to sustainable profitability,” Soriano said. “Financially, the club continues to improve. Growing revenues and controlled expenses are bringing the club to break even in the immediate future and profitability thereafter."

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