For future reference: Khaldoon says City have NO debt!

[skybluekings]

Found this quote from City chairman Khaldoon al-Mubarak
http://uk.eurosport.yahoo.com/17092009/63/khaldoon-rejects-criticism-spending.html

"But Khaldoon defended City's spending of more than £200million on 11 players since in the last year, telling the Guardian: "I could accept the argument if we were artificially building up the club through debt.That produces a destructive end result; we have seen that happen. But in our case, the club will be in the healthiest position because there is no debt. We have funded it through equity (permanent investment), including the signing of the players."

He added: "I believe what we are doing is a fair way to inject competition into football, without debt."

So in the future, if anyone questions city's financial position - the above is straight from the Chairman's mouth.

 

[ell]

We knew this when we were getting arab owners! they dont believe in lending money!

 

[skybluekings]

We knew this when we were getting arab owners! they dont believe in lending money!

not so sure about that because that doesn't seem to be the case at Portsmouth. Al Fahim was last week talking with banks (Guardian)

 

[ell]

We knew this when we were getting arab owners! they dont believe in lending money!

not so sure about that because that doesn't seem to be the case at Portsmouth. Al Fahim was last week talking with banks (Guardian)

Look at Al Fahim and our owners lol, he thinks hes something out of Miami vice not the middle east!

We are being run properly thank god!

 

[skybluekings]

not so sure about that because that doesn't seem to be the case at Portsmouth. Al Fahim was last week talking with banks (Guardian)

Look at Al Fahim and our owners lol, he thinks hes something out of Miami vice not the middle east!

We are being run properly thank god!

AMEN! :)

 

[al-kitbi]

there is a big deference between AlFuhaim and the owner of Man city
he tried to act in his own
Man city owners had huge funds and there will be no problem at all :)

 

[RealMancsAreBlue]

Al Fahim is not short of a bob or two but Portsmouth are going to need some serious serious cash, they are heavily in debt as well as needing 3/4 of a squad and a new ground.