City halve losses to €62.5m

Manchester City have halved their losses for a second consecutive year with the club confident they will break even as early as next season and comply with Uefa’s financial fair play rules.

City recorded a £51.6m (€62.5m) loss last season, down from £97.9m (€118.6m) in 2012 and £197.5m (€239.4m) the previous season. Turnover was a record high of £271m (€328.5m), up from £231m (€280m), and is the second-highest in the Premier League.

City have also paid off all of their debts, which totalled £58m (€70m) a year ago.