skybluekings
Well-Known Member
- Joined
- 28 Jan 2009
- Messages
- 1,234
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.
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.