Man City forced to sell several stars to reduce wage bill
Deloitte's annual review of football finance shows that the Premier League champions spent more on wages than they earned during 2010-11, which is the last season before rules force clubs playing in Europe to break even.
As wages in the top flight went up by a record 201 million pounds to almost 160 billion pounds, City's wages were 14 per cent more than their revenue.
Roberto Mancini's money-loving side was one of 11 clubs including Chelsea (84 per cent) and Liverpool (73 per cent) who spent more than 70 per cent of revenue on wages.
Manchester United had the lowest at 46 per cent, while the average for the League rose to a record high of 70 per cent.
"If the wages to revenue ratio is 70 per cent or higher it's very difficult to make an operating profit," The Daily Mail quoted Alan Switzer, director in Deloitte's sports business group, as saying.
"It is too high as a League and the clubs need to be edging back to the low sixties. Chelsea and Manchester City are the clubs which have recorded the biggest losses so they are the two which have the most to do and to be fair to them they have been pretty public about needing to take action," he added. (ANI)