Premier League leaders Manchester City have announced record losses of £194.9million for the 2010-11 financial year.

The huge sum, which is the highest-ever recorded in English football, demonstrates the level of the investment made by owner Sheikh Mansour.

Fortunately for the club, UEFA's new Financial Fair Play regulations fall outside the accounting window, meaning the losses will not count towards their participation in European competition.

City say the losses were predicted and that the record figure is not something that will be repeated in future.