Wage costs of £133m exceeded a turnover of £125m

Wage costs of £133m exceeded a turnover of £125m, which in the vast majority of businesses would be unsustainable.

But City are owned by wealthy Sheikh Mansour of Abu Dhabi, who wants to see the club competing at the very top.

He has spent more than £300m on players since buying City - who have not won a trophy for 34 years - from the former Thai prime minister Thaksin Shinawatra in late 2008.

World-renowned stars such as Carlos Tevez, James Milner, David Silva and Yaya Toure have joined the club on big weekly wages as Roberto Mancini's squad bid to break into the top four of the English Premier League, having just missed out in fifth place last season.

"Two years ago I was fortunate enough to become part of the Manchester City story and I remain grateful for the warmth of the welcome that you have given me," Sheikh Mansour bin Zayed Al Nahyan said in a letter posted on the club's official website.
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