Man City investing beyond football says Cook
THE man leading the £500m+ transformation of Manchester City FC says there is a perception that the club is only investing in football.
Chief executive Garry Cook told TheBusinessDesk.com that the club is building for the long term across a “wide portfolio” of assets.
The club’s recent annual report revealed that more than 100 non-football playing jobs had been created in the last year. This week it hired two young apprentices as part of the Skills and Enterprise project within its City in the Community programme..
Mr Cook said: “There is a perception I think, driven by the some parts of the media, that we are only investing in the first team squad. The reality though is that we’ve invested in our academy, in new corporate headquarters, in medical facilities and of course the fan experience too with City Square, and of course in social and community responsibility.
“This is clearly more than just investing in players on the pitch.”
Mr Cook, a former Nike executive hired by the previous owner Thaksin Shinawatra, was retained to drive the City ‘project’ on the ground, while Sheik Mansour and chairman Khaldoon Al Mubarak remain in Abu Dhabi.
Mr Cook is coy on what the next phase of the investment will be. Blueprint plans to further transform a 200-acre site around the City of Manchester Stadium, were revealed in March, and are said to include an expansion of stadium capacity from 48,000 to 60,000, the construction of a world-class training complex, plus leisure and entertainment facilities.
He said: “There is a lot of work going on with our partners on the Joint Development Board, both in the short term and the long term. We’re working to improve the fan experience and build the football club for the future.”
Speaking to TheBusinessDesk.com at the launch of the club’s new shop on Market Street, Manchester, he said continual improvement is his goal.
“We are relentlessly seeking to get better in what we do,” he said, citing the partnership with sports retail specialist Kitbag as the model for future development of non-core activities.
While headlines have been made by the mammoth investment on players and salaries, City have made strides as a business with revenues in the last financial year leaping 44% to £125.1m.
The club’s challenge over the next few years is to drive revenues higher still while reining -in the wage bill (£133m) so the club can meet new financial fair play rules being introduced by UEFA.
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