Manchester City are moving closer to breaking even, according to the club's chairman.
Khaldoon Al Mubarak explained that the Premier League champions have moved "beyond a period of heavy investment" despite posting losses of £22.9 million for the year to May 31st, 2014. The club was also fined £16.2 million by Uefa for breaching Financial Fair Play (FFP) regulations.
Since the Abu Dhabi United Group took over Manchester City in 2008 it has invested over £1 billion into the Premier League club. It has transformed the side, currently managed by Chilean Manuel Pellegrini, from battling in the lower half of the division into a title challenging team. During this time the club has won two Premier League titles, an FA Cup and a League Cup as well as regularly competing in the Champions League.
Managers have been given the funds to splash out on top name signings. The likes of Sergio Aguero, David Silva, Edin Dzeko, Yaya Toure and Mario Balotelli have been purchased for tens of millions of pounds. They broke the British transfer record when then manager Mark Hughes paid Real Madrid £32.5 million for the Brazilian striker Robinho.
Following years of increased investment Mr Al Mubarak said the club is now closer to becoming self-sufficient. This could potentially spell the end of record spending in the blue half of Manchester and the development of a more measured approach.
The Manchester City chairman said: "The club is where we hoped it would be when we began this transformation six years ago.
"Now we have moved beyond the period of heavy investment that was required to make the club competitive again, it is commercial growth of the kind we are seeing today that will underpin and support our operations in the future."
The club is currently in the process of expanding their Etihad Stadium home. Extending the ground's South Stand will take capacity up to 55,000.
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