Get the FREE Mirror Football newsletter by email with the day's key headlines and transfer news Sign up Thank you for subscribing We have more newsletters Show me See our privacy notice Invalid Email

Manchester City's total employee wage bill was £639,000 A DAY in the year ending May 2013, according to their latest accounts.

Figures show that overall wages were £233.1million over the period, while the club's net spend on player transfers has been £582million between Sheikh Mansoir's 2008 takeover and May last year.

The £233.1million also includes the significant pay-off of former boss Roberto Mancini as well as members of his coaching staff.

While City spent £610million on players from 2008-13, it received £112million transfer fees, giving a net spend of £498m.

That figure does not included the £84m spent last summer on Fernandinho, Alvaro Negredo, Jesus Navas, Stevan Jovetic and Martin Demichelis, taking the overall transfer spend under Sheikh Mansour to £582m.

City also announced a record annual revenue of £271million - breaking the £250m threshold for the first time in the club's history.

They almost halved their losses for second consecutive year and have are operating under zero financial debt having paid off remaining external borrowings.

The figures emerged from City's annual report for 2012-13, with the club posting a net loss of £51.6m, down from £97.9m in the previous period.

City chairman Khaldoon Al Mubarak said the figures displayed a "renewed sense of confidence for the future" and claimed the club's growing global profile had "generated significant commercial opportunities for the organisation and underpinned a strong momentum for the years ahead.”

Chief executive Ferran Soriano said: "Growing revenues and controlled expenses are bringing the club to break even in the immediate future and profitability thereafter.”