Blues set to avoid further Uefa fines as losses slashed to €29m

Manchester City should be assured of complying with Uefa’s financial fair play rules this season after drastically cutting their losses compared to last year.

The club’s annual report shows City had record revenues of £346.5 million (€442m) for the year ending May 31 2014, a 28% increase thanks to finishing as Premier League champions, the bumper new TV deal and commercial income rises.

City’s overall losses have halved to £23m (€29m) — of which £16m (€20m) was the fine imposed by Uefa last season for FFP rule breaches and does not count towards this year’s calculation.