Source: Telegraph
Manchester City chairman Khaldoon alMubarak defends lavish spending
Since Sheikh Mansour bin Zayed al-Nahyan, a member of the Abu Dhabi royal family, took over the club City have embarked on a spending spree that has seen 11 players join for a combined fee of over £200 million.[LNB]Many observers, including Uefa chief Micheal Platini, have voiced concerns as to the implications of City's wealth for the wider game but Khaldoon insists those concerns are unfounded.[LNB] Related ArticlesTevez: nothing to fear from United fansCesc Fàbregas accuses Emmanuel AdebayorSir Alex Ferguson: Manchester City are 'cocky'Arsenal buoyed by Van Persie recoveryArsenal v Wigan: match previewEduardo winner 'inevitable''I could accept the argument if we were artificially building up the club through debt,' Khaldoon said in an exclusive interview with the Guardian newspaper.[LNB]'That produces a destructive end result; we have seen that happen. But in our case, the club will be in the healthiest position because there is no debt. We have funded it through equity [permanent investment], including the signing of the players.[LNB]'I believe what we are doing is a fair way to inject competition into football, without debt.'[LNB]Platini mentioned City explicitly when revealing his latest plans to curb the excesses of some of the bigger European clubs. The thrust of his argument is that clubs should not be allowed to spend beyond their means, using only those funds generated by ticket sales, sponsorship and TV deals.[LNB]From 2012 Uefa rules will come in to force, endorsed by the European Club Association, to that effect, with heavy borrowing or the reliance on a 'sugar-daddy' leading to possible expulsion from European competitions.[LNB]Platini said: 'Manchester City can spend £300m if they want to,' the Uefa president said, 'but if they are not breaking even in three years, they cannot play in European competition.'[LNB]Khaldoon who has yet to see the details of the proposal, however, insists that such moves would help set in concrete the current order of club football in Europe, denying mid-ranking clubs the possibility of attracting investment and then challenging higher up the chain.[LNB]'The argument that this is unhealthy suggests that the big clubs, which make the most money, must remain the big clubs, that the status quo must remain,' Khaldoon said. 'Is Mr Platini saying that only Real Madrid and Barcelona have the right to be competitive in La Liga?[LNB]'I appreciate the argument about having so much money. The way I answer it is: Yes, this is a club, but it is a business too, and in business, you are there to compete. And we are striving to build the club the right way, with respect for its heritage, and the fans.'[LNB]
