City losses pass £120m

MANCHESTER CITY have swept past Manchester United in the pay league for players, the club’s annual report yesterday revealed.

The figures also show details of City’s astonishing spending spree on players and salaries which have led to record losses of £121.3 million (€139.5 million).

Although City’s turnover increased by 40% to £125m this has been swamped by total salary costs of £133.3m, a £50m rise on a year ago.