Man City get R6-billion ‘gift’
Man City get R6-billion ‘gift’
Posted: 2009-07-22 13:18
Manchester City’s new owners are viewing the R6-billion they have invested in the Eastland’s outfit as ‘a gift’.
This means that the bucketloads of cash being spent on wages and transfer will not have a negative effect on the club, whose big spending has recently brought Carlos Tevez and Emmanuel Adebayor to City.
The Abu Dhabi heads’ donation means that the hefty expense bills will not be counted on City’s balance sheet, unlike Chelsea, who have not been so fortunate. Chelsea owner Roman Abramovich has just acquired R9-billion in soft loans and off-loaded half of that onto the club’s books as a debt.
City’s owners expect their investments to pay off, with long-term intentions to make their way to the Champions League as a self-sufficient entity.
Meanwhile, City’s new R280-million striker Adebayor arrived in Durban yesterday. Brazilian Robinho is expected to arrive tomorrow.
With both Carlos Tevez and Roque Santa Cruz still carrying knocks, it remains to be seen who Hughes selects for the Vodacom Challenge final this weekend.
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