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Man City Takeover Cost Revealed – £770M

City’s billionaire owner,Sheikh Mansour has committed a mind-blowing £770 million to Manchester City since taking control of the club last year.

The deal includes includes the £200 million it cost to buy the club, the £342.786 million committed on players’ contracts and £10 million spent on improving the Carrington training headquarters, City of Manchester Stadium and the club’s academy.

Mark Hughes, the City manager, has spent £140 million on six leading players this summer and £218.2 million in transfer fees in total since Sheikh Mansour’s takeover, during which time City’s annual wage bill has more than doubled to just under £95 million.

carlos tevez
The deal also made Carlos Tevez the most expensive player in British history and the fifth highest in the world, as he cost them a staggering £47 million.

City’s billionaire Arab owners have agreed to pay almost twice the £25.5 million fee widely reported to have changed hands. An initial £15 million payment is to be followed by two additional sums of £16 million.

Another £3.5 million will be paid if City win the Champions League while Tévez is at the club — an improbable scenario, but Sheikh Mansour has already shown the lengths to which he is prepared to go to transform the club from perennial underachievers into contenders for the biggest prizes.

Tevez’s investors stand to make an estimated profit of at least £50 million from an assortment of fees received for a player whose “economic rights” they originally bought from Boca Juniors for £14 million in 2004.

They are understood to include a fee of £4.5 million from West Ham, where Tévez spent the 2006-07 season, a £9 million payment from Manchester United to cover the cost of the player’s two-year “loan” at Old Trafford and now the sum from City.

Source: The Times

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