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Sportswash! - Let’s oil stare at Manchester City!


ClaretMahoney

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Shit club in the north of England (And I'm from yorkshire!) This will not last. Novelty of winning league title/champions league will last a week or two. Once that is achieved are they really going to keep chucking money at them?

No chance. Big fall, might be ten years but I bet its less than seven!

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very good preformance last night barry man of the match at the ground milner man of the match on sky

I'm not one to be a dickhead about grammar on forums but seriously...

I'm not one to be a dickhead about grammar on forums, but seriously... 8)

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Shit club in the north of England (And I'm from yorkshire!) This will not last. Novelty of winning league title/champions league will last a week or two. Once that is achieved are they really going to keep chucking money at them?

No chance. Big fall, might be ten years but I bet its less than seven!

Yeah, you're from Yorkshire and criticising a club in Lancashire! Come on, mate :D

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In 7-10 years they will be set up and self fullfilling with fans across the globe. They won't need massive investment anymore to keep ticking along. Much like how Abramovich doesn't put loads of money into Chelsea anymore.

That's if they're successful, though.

The difference between Abramovich's Chelsea and Sheikh Mabooty's City is that Chelsea were already one of the top six teams in the league and just needed the extra push from 5th-6th to 1st-2nd.

Man City were as mid table as mid table could get. They're also competing in a much, much more competitive league now. Excluding themselves, there are currently seven other very, very good teams in the league at the moment, all of whom believe they're a good bet for finishing in the top four.

They're going to have to have an almost flawless season this year in order to break into the top four, whilst competing in three other competitions.

And they're going to have to keep faith with Mancini this season, as they won't be able to remove him if the results aren't good enough, then expect to bring in another new manager mid-season and expect instant success from the new man.

Anyway, my point is that it's not set in stone that they'll replicate the success of Chelsea. You have to remember that even with all that money they spent, it still took the best manager on the planet to win the league for them.

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The new Chelsea is probably more realistic though.

And even if it all does go horribly wrong after they have won the league a couple of times, the highs would be totally worth the lows. If Roman pulls out of Chelsea tomorrow they have three Premier League titles, three FA cups and a couple of league cups to thank him for.

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very good preformance last night barry man of the match at the ground milner man of the match on sky

I'm not one to be a dickhead about grammar on forums but seriously...

I'm not one to be a dickhead about grammar on forums, but seriously... 8)

I'm not one to be a dickhead about grammar on fora, but seriously...

(emoticon)

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Revealed: Sheikh Mansour's £500m Manchester City cash injection

• Support of club's owner may exceed £650m over two years

• Net expenditure on players' transfers totals around £300m

Matt Scott

The Guardian, Thursday 26 August 2010

Sheikh Mansour, Manchester City's owner, made cash investments of nearly £100m in the space of three months this year. Photograph: Jason Cairnduff/Action Images

Sheikh Mansour has been forced to inject half a billion pounds in cash into Manchester City to cover his club's runaway expenditure over the past two years, Digger can reveal. Although that sum exceeds the gross domestic product of the Seychelles and Grenada, Mansour's spending will not stop there.

There are two main routes through which an owner can directly finance a company: either through debt in the form of shareholder loans, as Roman Abramovich did at the outset of his Chelsea ownership, or through equity. It is via the latter route – by issuing new shares to be sold to himself – that Mansour has capitalised City.

The injection of more than £399m up to December last year, much of which went on covering the £304.9m in shareholder loans that had been racked up with Mansour, was just the start. A statement released to Companies House by the board of the Eastlands club's parent, Manchester City Limited, said Sheikh Mansour had paid £46.2m in cash for new equity issued in May. "The following resolution was passed by the directors of Manchester City Limited on 5 May 2010: that 21,792,452 new ordinary shares be allotted to Abu Dhabi United Group Investment and Development Limited in consideration of the cash payment of £46.2m."

There followed another resolution in January, under the terms of which Mansour has been able to fund the club with intermittent investments of cash. On 13 July another £53m came in to the club from Mansour's coffers, taking the cash investment in the space of slightly more than three months to £99.4m and to within a whisker of £500m in total. That is just what has been specifically announced to Companies House either through City's parent company accounts or its general filings.

There are indications that Mansour's total support for the club may even exceed £650m. According to a statement of capital filed with Companies House in July, accompanying the most recent equity issue, there are now 308,465,127 ordinary shares in issue. Assuming that each one of these cost Mansour £2.12, as all those issued this year have, Mansour will have made £650m available to the club.

Contributing to the runaway expenses under Abu Dhabi's ownership have been staggering transfer fees. Between September 2008 and December 2009, City's net expenditure on transfers after player sales was about £200m; another net sum of £100m has been spent on players since then.

The wage burden also takes significant support. It is impossible to know exactly what that amounts to until the club's next set of accounts are released in February. But given that wages were the key contributor to the club's £92.6m loss in the 12 months to 31 May last year – since when almost £220m net has been splashed out on new players – it is rising fast.

"[There was] a significant increase in operating expenses – primarily driven by increased playing staff remuneration," said the club's chief executive, Garry Cook in his statement in last year's parent company accounts. "It is therefore expected that there will be further significant operating losses reported in future financial periods."

So with £300m cash spent on new players after player sales, £82.63m spent on wages in the 12 months to 31 May 2009 – a sum that continues to rise – and losses of £96.2m over the same period, Mansour will have to put his hands in his pockets again. It is lucky they are deep.

Wrongs of image rights

Two former chairmen of one of France's biggest clubs have received suspended prison sentences for having overseen secret image-rights contracts with players between 1998 and 2003. Laurent Perpère and Francis Graille, who were the two chairmen of Paris Saint-Germain between 1998 and 2005, were sentenced to 12 months and eight months respectively, suspended, in a case that also led to Nike Europe being fined €120,000 (£98,000) for its involvement in assisting with the contracts. A spokesman for Nike did not return Digger's call yesterday.

The effect of the contracts was that players did not have to make tax and social security payments on a proportion of their earnings from the club. Players such as Jay-Jay Okocha and Nicolas Anelka were the beneficiaries of these contracts, according to French court papers seen by the Guardian. The players have not been accused of wrongdoing.

The case is known to have been monitored by HM Revenue & Customs, which is pursuing action against several English football, rugby and cricket clubs for their use of image rights. It has not shrunk from pursuing criminal charges in the past; Harry Redknapp, Milan Mandaric and Peter Storrie – respectively the former manager, chairman and chief executive of Portsmouth – are set to stand trial next year for allegedly having cheated the public revenue. All deny the charges.

Chopped down

Paul Scholes is not the only one at Manchester United capable of hacking down things that get in his way – but this time it is an innocent tree that has been caught in the crossfire. When photographers arrived at United's Carrington training ground yesterday they went to take up their normal positions around a tree they have often climbed to take sneak pictures of the action during coaching sessions. However, they discovered it had been chopped down. When asked if Scholes had been in the vicinity at the time, United declined to comment.

Cink counts the pennies

For some golfers, the UK tax regime clearly is, er, taxing. At a time when sports stars across the world are complaining about the punitive nature of our tax laws that demand 50% of every penny they earn from prize money and endorsements, prorated to the time they spend in this country, Stewart Cink clearly has tax on his mind. Even with career earnings of £17.7m to the end of 2009, Cink evidently still likes to count the pennies. "Survey time, kids!" announced last year's Open golf champion to his 1.2m followers on Twitter.

"Just bought a pair of headphones at the airport for $100 (£65). Tax deductible?"

Clicky

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Milner saying he made the right choice going to City. One thing I think is odd, which I might be reading too much into, is that he refers to Villa as "us" and City as "they"..

Manchester City midfielder James Milner is sure he made the right decision after moving to the club from Aston Villa.

The 24-year-old England international completed his move to Eastlands earlier in the month and made his debut in the 3-0 win over Liverpool on Monday.

Milner, formerly of Leeds and Newcastle, cost the Blues approximately £26million, with Stephen Ireland going in the opposite direction.

Ireland has since warned Milner that the grass is not always greener on the other side and that he perhaps did not make the right choice in opting to join the City revolution.

But Roberto Mancini's new signing has been impressed with the set-up of the club so far, and has played down the debate with Ireland.

He said: "I have not seen the story but heard it second and third hand. Hopefully he can do well at Aston Villa and be a great signing for them.

"Likewise hopefully I can have success here. The set up is very good at City. The professionalism and attention to detail, down to the recovery and preparation for games, is right up there.

"So we are geared up to doing very well. It is down to us to go out on the pitch and see who far we can go. We will take it one game at a time.

"I knew it would be a good opportunity. Aston Villa are a very good club and we came close to winning something last year.

"Manchester City are also a very good club and moving in the right direction. They have a lot of fantastic players."

Milner had an impressive debut against the Reds earlier in the week and will be hoping to make an impact in City's Europa League clash on Thursday.

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very good preformance last night barry man of the match at the ground milner man of the match on sky

I'm not one to be a dickhead about grammar on forums but seriously...

I'm not one to be a dickhead about grammar on forums, but seriously... 8)

I'm not one to be a dickhead about grammar on fora, but seriously...

(emoticon)

Apparently not. Had a big argument with proof-reader the other day who was insistent that the plural of forum in this context is forum. Apparently fora is the plural of forum in the Roman context only.

(I did show him countless on-line dictionaries that discounted his position but he went all OED on my ass).

Wait, what was this thread about again?

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Milner saying he made the right choice going to City. One thing I think is odd, which I might be reading too much into, is that he refers to Villa as "us" and City as "they"..

Manchester City midfielder James Milner is sure he made the right decision after moving to the club from Aston Villa.

The 24-year-old England international completed his move to Eastlands earlier in the month and made his debut in the 3-0 win over Liverpool on Monday.

Milner, formerly of Leeds and Newcastle, cost the Blues approximately £26million, with Stephen Ireland going in the opposite direction.

Ireland has since warned Milner that the grass is not always greener on the other side and that he perhaps did not make the right choice in opting to join the City revolution.

But Roberto Mancini's new signing has been impressed with the set-up of the club so far, and has played down the debate with Ireland.

He said: "I have not seen the story but heard it second and third hand. Hopefully he can do well at Aston Villa and be a great signing for them.

"Likewise hopefully I can have success here. The set up is very good at City. The professionalism and attention to detail, down to the recovery and preparation for games, is right up there.

"So we are geared up to doing very well. It is down to us to go out on the pitch and see who far we can go. We will take it one game at a time.

"I knew it would be a good opportunity. Aston Villa are a very good club and we came close to winning something last year.

"Manchester City are also a very good club and moving in the right direction. They have a lot of fantastic players."

Milner had an impressive debut against the Reds earlier in the week and will be hoping to make an impact in City's Europa League clash on Thursday.

Of course he did. He ended up tripling his wages the money grabbing clearing in the woods.

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