Manchester United return to top of highest payers in Premier League

Manchester United are back at the top of the highest wage payers list in the Premier League after Manchester City released their annual accounts, showing a dramatic reduction in their losses.

For the year ending May 31st, 2014, City’s wage bill was £204 million (€260 million, with Manchester United paying out £214.8 million (€274 million).

The good news for City is that they 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 £346.5million (€442 million), a 28 per cent increase thanks to finishing as Premier League champions, the bumper new TV deal and commercial income rises.

City’s overall losses have halved to £23 million (€29.35 million) – of which £16 million (€20.4 million) was the fine imposed by Uefa last season for FFP rule breaches and does not count towards this year’s calculation.

In terms of Uefa’s FFP rules, City’s results should mean that the full £50million (€63.8 million) conditional fine announced in May will not apply and that the financial penalty will be limited to £16 million (€20.4 million).

City, who are due to unveil their new academy next week, are also able to write off large sums spent on youth development and new facilities as far as FFP is concerned, with club sources confident they have a cushion of £20 million (€25.5 million) to £25 million (€32 million) above Uefa’s allowed losses.

The figures underline the strides the club has made since the takeover by Sheikh Mansour bin Zayed al-Nahyan, of the Abu Dhabi ruling family, since he bought City in August 2008.

Wages are now 59 per cent of turnover, compared to 86 per cent a year ago. The drop in the wage bill from £233 million (€297 million) 12 months ago is partly explained by the fact the previous figure included significant pay-offs to former manager Roberto Mancini and his coaching team.

City chairman Khaldoon Al Mubarak said in the annual report: “We have moved beyond the period of heavy investment that was required to make the club competitive again, it is commercial growth of the kind we are seeing today that will underpin and support our operations in the future.”