Manchester City will comply with Uefa rules says Cook
Tuesday 26 October 2010
Manchester City chief executive Garry Cook has promised the club have no intention of breaking UEFA's new financial fair-play rules.
Under new regulations enforced by European football's governing body from next season, no club should make an aggregate loss of more than 45million euros (about £39million) over the three seasons from 2011-12, or it will face being excluded from European competition.
Earlier this month City announced losses of £121million for the 12 months up to May 31, 2010, up from £92.5million for the previous year.
But Cook stressed the club do not plan to fall foul of the new rules, so will not head into the next transfer windows with the same "intensity".
He told the Guardian: "Clearly our intention is to comply.
"Our two-year plan was to take a budget and build a competency to compete at the highest level, not forgetting the need for succession planning in every position.
"We are pleased with how that worked, and will not be signing players to the same level of intensity in the next transfer windows.
"Financial fair play is on our conscience. We talk about it at every board meeting, and it's part of our long-term plan."
Cook also hit back at critics of the club's recruitment policy after a summer spending spree of over £100million to bring in the likes of David Silva, James Milner, Mario Balotelli, Yaya Toure and Jerome Boateng.
He said: "Critics only have their own perspective. They're not at the football club. They haven't been part of the planning or the long-term financial strategies.
"People think we choose players from the fantasy football league but there was a clear plan for who Roberto wanted to sign."
Latest in Sport
Frank Lampard was RIGHT not to celebrate Manchester City's equaliser against Chelsea
All Blacks Aaron Cruden misses New Zealand flight after drinking session, has brilliant excuse
WWE Raw results: Dean Ambrose and John Cena hunt down Seth Rollins but The Authority stand firmly in their way
Colombian women's cycling team kit that makes wearer appear naked is branded 'unacceptable' by UCI president
Five reasons why Louis van Gaal is a worse Manchester United manager than David Moyes
- 1 Cyclist in Russia narrowly misses being hit by car and lorry
- 2 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 3 What are your fingerprint words?
- 5 Pink Floyd new album: Band unveil cover art for first record in 20 years
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
Labour Party conference: Ed Balls to set out plan to freeze child benefit to balance books