Manchester City reveals record loss

Manchester City have reported an annual loss of 194.9 million pounds for 2010 to 2011, the biggest in English football history.



However, the operating loss does not include the club's huge sponsorship deal with Etihad Airlines, worth a reported 35 million pounds a year, or revenues from this season's Champions League campaign.



UEFA’s Financial Fair Play rules, which come into full effect in 2013-2014, say clubs must break even over three years.



However, the latest figures fall outside the accounting window for that.



The previous biggest Premier League loss was 141 million pounds reported by Chelsea in 2005 - when they went on to win the league.



The scale of City's losses reflect the investments made by owner Sheikh Mansour of Abu Dhabi, who has spent more than 460 million pounds on players since taking over the club in 2008.



Since then, City have been transformed into the current Premier League leaders.