Manchester City promise to meet new financial rules despite £150m losses Uefa has vowed to fine clubs or even expel them from the Champions League if they fail to meet their FFP obligations of losing no more than £37 million across the 2011-12 and 2012-13 seasons after all relevant exceptions are accounted for. European football's governing body has also promised to crack down on any attempt by teams to boost artificially their income through sponsorship deals with organisations who already have a financial stake in them. City have always maintained their £400 million, 10-year contract with Etihad Airways is not a mechanism for their Abu Dhabi owners to circumvent the rules, with sources yesterday stressing it more than represented fair market value when compared on a like-for-like basis with various deals agreed by the club's rivals. Last season's dramatic fall in City's losses was mostly as a result of a £35 million surge in their commercial revenues on the back of their 2012 title triumph. Their net outlay on transfers fell to £33 million, having been as high as £143 million in 2010-11 at the height of Sheikh Mansour's three-year spending spree. The club also reported a record turnover of £271 million, an increase on £231.1 million in 2011-12. They said they were operating with "zero financial debt" for the first time, having paid off all borrowings. Khaldoon Al Mubarak, the club chairman, reiterated his disappointment in last season's campaign, which cost Roberto Mancini his job as manager after the club failed to win a trophy. Al Mubarak made it clear what he expected of Manuel Pellegrini this year. "The club's ambition for the 2013-14 season is to bring silverware to the Etihad," Al Mubarak said. We have the squad, the management, the fans and the organisation. City by numbers £443: The amount City pay their 449 staff per minute, up from £384 in 2011-12. And that is despite cutting staff numbers from 476. £426,000: The amount paid to City's directors, which is less than Garry Cook's entire £500,000 pay-off after he quit in 2011, and less than a third of last season's £1.4 million. £498m: City's net spend on transfers since 2008. That is £610m on new players, with £112m recouped in sales.