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Manchester City announces huge financial loss in 2019-2020 season

Wed 07 April 2021 | 0:47

City chief executive Ferran Soriano says a better financial situation is expected at the end of the 2020-21 season.

The covid-19 outbreak has damaged the football world so badly as many clubs have had a disastrous year in terms of financial situations.

Manchester City

is only one example of the clubs recording a huge loss in 2019-2020. In the lattest report published by the club, it is stated that the current leader of the Premier League losses £126million in their 2019-20 financial results.

"Clearly, the 2019-20 accounts in isolation are not the best representation of the reality of the season with delayed player trading and numerous games being played after June 30, 2020, the revenues from which will be accounted in the 2020-21 period,"

said City chief executive Ferran Soriano.

"A better financial picture of the COVID years will be provided at the end of the 2020-21 season, when the two seasons are combined and normalised."

In the report, the club said:

"For full context, the 2019-20 results should be viewed alongside the 2020-21 results. This has been recognised by UEFA and exceptional changes to their licensing and regulatory approach will assess the combined results of both seasons.

"The directors remain confident that the club’s results for the two-year period will fall within UEFA’s Financial Fair Play requirements."

source: SportMob