Manchester City have announced today that in the last six months leading up to November 2006, they have made losses of £7.1 million. For the same period a year prior, they made an astonishing profit of £16.8 million, which was due to the sale of Shaun Wright-Phillips for £21 million to Chelsea.
Since then, City’s turnover has decreased by 9%, whilst their wage bill has increased by 4%, which works out at a rise of £1.8 million.
These figures will lead to further speculation of the sale of City youngster Micah Richards, who recently made his England debut. Chelsea are said to be keen to sign the player, and City might be tempted to sell him on to solve their problems, as they did with SWP.