Manchester City missed the Financial Fair Play (FFP) target despite halving their losses last season.

City have posted a net loss of £51.6m, down from £97.9m, but remain confident Uefa will not punish them despite exceeding the £37m threshold.
If a club fails to meet FFP they could be banned from the Champions League.

But City expect once cash spent on youth development and facilities, which is exempt from the FFP calculation, is included they will be under the limit.

Uefa has introduced a cap to the amount a club is allowed to lose in order to create a more level financial playing field.

City's financial report for 2012-13 reveals the club, who were Premier League champions in 2012, generated an annual turnover of £271m, the second-highest in the league.

City chairman Khaldoon Al Mubarak said there was a "renewed sense of confidence for the future", with success on and off the pitch having generated "significant commercial opportunities for the organisation and underpinned a strong momentum for the years ahead".

The club, who posted losses of £197.5m back in 2011, have also now paid off all their debts, which were £58m a year ago.

Isn't the BEP deficit capped at 45 M Euros over 3 seasons for EPL teams?

.....and according to Portugal press City made bids for Mnagala and Fernando. I think about 60 millions.