The figures up to the end of May 2010 show City lost £121million, which was up from £92.5million the previous year.
City's wages for the period were £133million, which was actually £4million more than the club's turnover of £129million.
The figures also do not include the summer expenditure, or the wages, following the arrivals of the likes of Yaya Toure, David Silva, Jerome Boateng and Mario Balotelli.
The figures show the huge investment being ploughed into the club by owner Sheikh Mansour.
Mansour released a statement along with the figures, which read: "Two years ago I was fortunate enough to become part of the Manchester City story and I remain grateful for the warmth of the welcome that you have given me.
"The ownership of a club like Manchester City, with such a rich heritage and diverse community of stakeholders, carries a unique set of obligations to the fans, staff and broader Manchester community. This is something I do not take lightly.
"Therefore the challenge I set my board and executive leadership team is to develop City so that it is one of the most successful clubs both on and off the pitch, but to do so without losing any of the characteristics that make it so special.
"It has been an exciting and busy two years and that is why we are publishing this annual report. It is designed for you the fans, providing a detailed perspective on the progress of your club as a business, as a member of the community and of course as a great sporting institution.
"Two years ago I promised that we would try and listen to your views and keep you informed of progress. I hope after reading the report that you feel a sense of pride in just how far we have come.
"I would like to take this opportunity to thank the fans, staff and partners of the club for their ongoing commitment and dedication, and wish the management and players a successful season for 2010-11."
Man. City v Newcastle 1st Goalscorer: Tevez, C. 3/1View the original article here
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