By Marcus Leach

Premier League pace setters Manchester City have reported an annual loss of £194.9 million for 2010-11, the biggest in English football history.

However, the losses reported by City do not take into account the club's huge sponsorship deal with Etihad Airlines, worth a reported £35m a year, or revenues from this season's Champions League campaign.

The figures will be of slight concern given that Uefa's Financial Fair Play rules, which come into force in 2013-14, say clubs must break even over three years.

Chairman Khaldoon Al Mubarak makes clear the priorities for the Club moving forward.

“Now that we are witnessing progress, both on and off the pitch, it is more important than ever to redouble our efforts and to work towards achieving our ambition to establish Manchester City as a more successful, sustainable and internationally competitive football club, which remains rooted in the heart of the community it serves,” he said.

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