Manchester City Forums

Premier League chief executive Richard Scudamore revealed the thrilling climax to the recent season, when Manchester City won the title in injury time on the last day, contributed to the increase.

"We have just come off the back of a fantastic season and it has been good for us," Scudamore said.

"We went to the market at the right time.

Story

£1.254bn more than the last deal. Take that, financial fair play.

Manchester City has revealed that its financial losses for 2011-12 have halved from a year earlier.

The Premier League champions announced a pre-tax loss of £93.4m, down from £189.6m in 2010-11.

Revenues increased 51% to £231.1m, with the club's first appearance in the Uefa Champions League contributing more than £22m in new revenue.

The club's sponsorship deal with Etihad Airways helped commercial partnership revenue double from £48.5m to £97m.

City's operating loss also improved from a record £194.9m to £104.1m.

Uefa's Financial Fair Play rules, which say clubs must break even over three years, come into full effect in 2013-14.

But City are confident even the huge losses will not have an impact on their ability to meet UEFA's strict Financial Fair Play guidelines as £15m comes from infrastructure and youth development costs.

More importantly, around £80m comes from contracts that pre-date 2010, from which City expect to get some kind of relief.