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
Arsenal vs Chelsea: Mutual contempt burns as rivals Arsene Wenger and Jose Mourinho face off again
Memphis Depay to Manchester United: Striker 'arrives in England' for talks over £25m switch
Wayne Rooney is Premier League's richest footballer with £72million worth but Lewis Hamilton leads the Sunday Times Rich List
Memphis Depay to Manchester United: Louis van Gaal faces difficult task as Liverpool hold 'secret' meeting with transfer target
What time does Floyd Mayweather vs Manny Pacquiao start?
- 1 Bruce Jenner's 'Interview of the year': Suicidal thoughts, rejection by family members and new wardrobe
- 2 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 3 How to turn off/stop 'seen by' on Facebook: Disable it to make your chats seem less passive aggressive
- 4 'We're not heroes, just tourists': Swedish police officers on holiday stop vicious assault on New York subway
- 5 Buckingham Palace guard who attacked passers-by in 'most most violent piece of CCTV footage' police officer had seen walks free
The sickening truth about food banks that the Tories don't want you to know
Katie Hopkins on LBC: Listen to caller taking The Sun columnist to task over migrant comments
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove