Manchester City chief executive Ferran Soriano remains optimistic about the club's future despite reporting £97.9million losses for the year to May 2012.
Hauling City into Europe's elite is coming at a hefty price for owner Sheikh Mansour, whose spending on the Blues has catapulted well beyond £1billion. The latest figures come less than a week after a defeat to Manchester United left City adrift of their major domestic rivals, and in the wake of an embarrassing Champions League group-stage exit.
But Soriano, the former Barcelona man recruited to guide City on the next stage of their staggering journey, said: "There are many reasons to be optimistic. Having returned to the summit of English football in 2011-12, the club has earned the chance to compete for a place as one of the biggest and most successful globally in the years ahead."
Copyright (c) PA Sport 2012, All Rights Reserved.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms