
Huge Debts Revealed By Man City Owners
Manchester City chairman Khaldoon Al Mubarak has today revealed huge debts found in Manchester City finances. Al Mubarak took charge of Manchester City as part of the Abu Dhabi United Group who took over in September 2008. The main cause of these debts were the lack of income coming into the club and the extortionate wages and transfer fees being spent. In August City manager Manuel Pellegrini spent around £100,000,000 in August alone on players such as Alvaro Negredo, Jesus Navas, Stefan Jovetic, Fernandinho and Martin Demichelis.
This isn't the only bad news for Man City, they will have a forced relegation down to the Blue Square Bet North with immediate effect. They will also have to sell off the Carrington training ground and Etihad Stadium if they want to ease the debts quickly. All of the Citizen's coaching and boardroom staff have all left the club, now they need a new manager and a whole new background to work from. The fans supporters club have taken over temporarily until new owners are found. City's challenge is to find a new, ambitious manager who is capable of getting rid of all the players on astronomical wages and bringing the club back down to basics. It's not a good time for Manchester City.
