Friday's B*ll*x

[Chinners]

OWNER BOLLOX
'Dear Fellow City Fans,

Two years ago I was fortunate enough to become part of the Manchester City story and I remain grateful for the warmth of the welcome that you have given me.

The ownership of a Club like Manchester City, with such a rich heritage and diverse community of stakeholders, carries a unique set of obligations to the fans, staff and broader Manchester community. This is something I do not take lightly.

Therefore the challenge I set my Board and Executive Leadership Team is to develop City so that it is one of the most successful clubs both on and off the pitch, but to do so without losing any of the characteristics that make it so special.

It has been an exciting and busy two years and that is why we are publishing this annual report. It is designed for you the fans, providing a detailed perspective on the progress of your club as a business, as a member of the community and of course as a great sporting institution.

Two years ago I promised that we would try and listen to your views and keep you informed of progress. I hope after reading the report that you feel a sense of pride in just how far we have come.

I would like to take this opportunity to thank the fans, staff and partners of the Club for their ongoing commitment and dedication, and wish the management and players a successful season for 2010-11.

Mansour bin Zayed'

Manchester City make £121m loss with wage bill bigger than turnover
Financial loss is second highest in Premier League history. City have less than four seasons to meet fair-play criterion

Manchester City made a financial loss of £121m in the 12 months to 31 May 2010, the first full year of ownership by Sheikh Mansour bin Zayed Al Nahyan, the club will announce today. Their income of £125m was entirely eclipsed by the wage bill which, for all staff, rose to £133m, up from £83m. That meant the club spent £8m more than their entire turnover on wages alone.

The result of Mansour's investment, now up to £500m in all of City's operations – most spectacularly by signing a squad of international players, several on wages of more than £100,000 a week – is the second biggest financial loss in the Premier League's history. The highest was that of Chelsea, who lost £141m in 2004-05, the end of the first full year following the takeover by the Russian oligarch Roman Abramovich.

City's investment from Abu Dhabi and improved performance – fifth place in the Premier League – led to earnings increasing by 45%, from £87m in 2008–09 to £125m. Season‑ticket sales were up too – this season all 35,000 have sold and "partnership income", largely sponsorship, has increased by almost 400% to £32.4m.

In the annual report, the club proudly highlight their all-round investment, with 106 further non-playing staff recruited, £255 spent per fan on improving the stadium experience, enhanced community programmes and other infrastructure.

Mansour says in an accompanying letter that his aim is to develop City into "one of the most successful clubs on and off the pitch, but to do so without losing any of the characteristics that make it so special".

The annual report reveals that since May the signings of David Silva, Yaya Touré, Jérôme Boateng, Aleksandar Kolarov, Mario Balotelli and James Milner, balanced by sales including Robinho and Stephen Ireland, cost a net £96.6m and significantly increased the wage bill.

City's strategy is similar to Chelsea's in the early days: invest heavily in players to gain success on the pitch, which brings higher earnings from television, tickets and commercial revenue. The aim is to bring young players through to replace the senior earners, and thereby bring income and expenditure more into line.

Their challenge, though, is to meet Uefa's financial fair-play edict, which requires clubs to break even beginning next year. Clubs are permitted to lose only €45m (£39m) to 2014 or they may face sanctions, including, most severely, exclusion from European competitions.

The chief executive, Garry Cook, said City are aiming to meet the requirements. "The last thing we want is not getting a licence to play in the greatest league."

TRANSFER BOLLOX
Tottenham manager Harry Redknapp may test Manchester City's resolve to hang on to striker Emmanuel Adebayor in the January transfer window. http://www.caughtoffside.com/2010/09/30 ... -adebayor/

Chelsea may take advantage of stalled contract talks between Philippe Mexes and Roma to try and land the French defender on a free transfer. Daily Mail

Liverpool manager Roy Hodgson may try to tempt Manchester United striker Michael Owen into a return to Anfield as he looks to increase the Reds' attacking options. caughtoffside.com

Wigan attacker Charles N'Zogbia still has his heart set on a move away from the DW Stadium and has hinted that Marseille could come in for him in January. Daily Mail

Spurs boss Redknapp has also warned Real Madrid off his left-sided Welsh star Gareth Bale. The Sun

Valencia and Portugal defender Miguel has admitted he is interested in playing for Liverpool to link up with international team-mate Raul Meireles at Anfield. talkSPORT

Bristol City are interested in bringing Ajax midfielder Evander Sno, who recently suffered a suspected heart attack, back to Ashton Gate, with a loan move until January a possibility. talkSPORT

Arsenal's French striker Gilles Sunu could be in line for a loan move back to Derby after recovering from a cartilage problem picked up in pre-season. talkSPORT

Arsenal are also weighing up a £3m move for Tromso midfielder Kara Mbodj after he impressed chief scout Steve Rowley. Daily Mail

OTHER BOLLOX
Manchester United striker Wayne Rooney, who is suffering from an ankle injury, is willing to stand up to manager Sir Alex Ferguson if he attempts to hold him back from joining up with England for the European Championship qualifier against Montenegro on 12 October. Arsenal playmaker Jack Wilshere could also be called up. Daily Mail

In the expected absences of Jermain Defoe and Bobby Zamora, Newcastle striker Andy Carroll is poised for an England senior call by Fabio Capello on Monday after being left out of the Under-21 squad for the European Championship play-off. Daily Mirror

Chelsea's Russian owner Roman Abramovich has told his players that he expects them to win both the Champions League and the Premier League this season. The Sun

After returning from injury, Wolves midfielder Stephen Hunt is working so hard in training he does not know what day it is. The Sun

France coach Laurent Blanc forgot to name two players for the forthcoming Euro 2012 qualifiers against Romania and Luxembourg, failing to mention that Arsenal's Samir Nasri and Real Madrid's Lassana Diarra were in his squad. The Sun

Manchester United striker Javier Hernandez was involved in a stand-off with an angry farmer in a tractor at the club's training ground which nearly left him stuck in a ditch. Daily Mirror