Manchester City chief executive Garry Cook recently went on record as stating that after this summers spending spree, the club would be looking to seriously cut down their outgoings as the owners look to make City a sustainable business whose huge losses will be reduced in the future, the Telegraph quotes Cook as stating
“It is safe to say that player acquisitions on the scale we have seen will no longer be required in the years ahead now that we have such a deep and competitive squad. These results (the club lost £121 million in the 2009/10 season) should come as no surprise. Investments made in the 2009-10 financial year are consistent with our owner’s vision to operate on a successful and sustainable footing in the future.”
I would have been sceptical over what Cook was claiming had it not been for a rule that will be introduced by UEFA which compels clubs who wish to enter their competitions to be run in a financially sound manner. The rules state that clubs must have not have a loss of a total greater than £39 million in the three years until the end of the 2013-14 season, those who do not adhere to this rule will not be permitted to enter UEFA run tournaments.
The Manchester City owners not only want glory domestically, but they will undoubtedly want to turn their club into one of the biggest and most successful in Europe, and they will obviously not be able to do this if they are not competing in the Champions League. The massive amount of spending we have seen since the Abu Dhabi group took over then, will probably not be seen again.
Manchester City’s proclamation that they will become a financially viable operation follows that of fellow big spenders Chelsea in the past couple of years. Roman Abramovich changed the face of English football when he took over at Stamford Bridge and the club saw unprecedented spending lavished on signing up some of the best talent from across the word. In the past few seasons however, Chelsea’s outlay on transfers has diminished greatly as the clubs hierarchy look to make put the club on an economically sound footing rather than posting huge losses season after season. Abramovich recognised that throwing money around left right and centre could not go on indefinitely, and now it seems the owners at Man City share the same view.
Man City though, will still be able to spend money this January without having to worry too much about UEFA’s new rules that are going to come into place in the next few years. You imagine if the club are in the running for the Premier League title, or if they are being pushed for a Champions League place, Sheikh Mansour and Roberto Mancini will have no qualms about spending a good deal of money to get them over the finishing line.
Manchester City are going to have to rein in their expenditure on players in the coming years. Not only will they have to in order to meet UEFA regulations, but from a footballing side it also makes sense. If a club is going out every close season and buying in a load of new players it does little for morale in the dressing room, and also prohibits a team from bonding and forging a united and winning mentality, a team needs time to gel in order to be successful, a fact that has been recognised at Chelsea for instance. I have no reason to doubt what Cook is saying, its the sensible thing to do in nearly every respect.