NEU » rdiola.City did reach the Champions

LONDON -- Manchester City achieved its second profit under its Abu Dhabi owners prior to a bout of heavy spending on players in the offseason which is aimed at title challenges in England and Europe.As City disclosed its annual financial results, chairman Khaldoon Al Mubarak said Tuesday that the Premier League club has started a critical new phase in the transformation that began with the 2008 takeover by Sheikh Mansour, a member of Abu Dhabis oil-rich ruling family.Profits nearly doubled to 20.5 million pounds ($25 million) in the 2015-16 season, when the only trophy was the League Cup, prompting the replacement of Manuel Pellegrini as manager with Pep Guardiola.City did reach the Champions League semifinals for the first time last season, losing to eventual champion Real Madrid, but only finished fourth in the Premier League. The response was providing Guardiola with around 170 million pounds ($207 million) to lavish on fresh talent in the summer transfer window, including defender John Stones and winger Leroy Sane.I believe the 2016-17 season represents the beginning of a critical new phase in the evolution of Manchester City, Al Mubarak said in a statement. We know that we have the playing, coaching and off-field capabilities at our disposal to achieve great things in English and European football in the years ahead.City, which won the English title for the first time in 44 years in 2012 and then again in 2014, is top of the standings after eight games. City has never won the European Cup and Guardiola faces Barcelona in the Champions League on Wednesday with the team two points behind his former club in Group C.City has had an uncomfortable relationship with the Champions League and competition organizer UEFA, which previously restricted the teams spending and squad size as punishment for breaching Financial Fair Play rules following large outlays on transfers.With limits on how much its wealthy owner can inject into the club, City has focused instead on generating more cash. Citys best Champions League run helped to drive revenue up 11 percent to a club record 391.8 million pounds ($478 million) in 2015-16. Citys neighbor Manchester United last month reported annual revenue of 515.3 million pounds ($628 million).Manchester City is the dominant club in the City Football Group -- which also includes teams in New York, Melbourne, Yokohama -- and was valued at $3 billion last year when a Chinese consortium took a 13 percent stake.---Rob Harris is at www.twitter.com/RobHarris and www.facebook.com/RobHarrisReports Clearance Nike Shox . The formidable trio of Canadian receivers -- individually known as Chris Getzlaf, Rob Bagg and Andy Fantuz -- will share the field at Mosaic Stadium one more time on Sunday. Discount Nike Shox . Instead of dwelling on the negative, Oates focused on what was good about the clubs recent play. It worked. http://www.cheapnikeshoxfreeshipping.com/ . The Celtics closed out their first preseason under Stevens on Wednesday night with a 101-97 victory over the Brooklyn Nets, who rested a lot of their lineup including former Celtics Kevin Garnett and Paul Pierce. Cheap Nike Shoes Free Shipping . Halladay signed a one-day contract with the Toronto Blue Jays on Monday that allowed the veteran right-hander to retire as a member of team with which he broke into the majors and spent the bulk of his distinguished 16-year career. Wholesale Nike Shox . Jeff Green scored 13 points and Kris Humphries 12 for the Celtics, who nearly blew an 18-point, second-half lead. Sullingers 20-20 was the first by a Celtics player since Kevin Garnetts first game in Boston in 2007. Garnett was dealt -- along with Paul Pierce -- to Brooklyn during the off-season. The 12th annual Tour of California will race from the state capitol in Sacramento to the finish in Pasadena with seven stages covering 600 miles from May 14-20.Other host cities are Big Bear Lake, site of the individual time trial, Modesto, Morro Bay, Mount Baldy, Mountain High, Ontario, Pismo Beach, San Jose, Santa Barbara and Santa Clarita.Event owner AEG sayys next years race has been elevated to UCI WorldTour status, the only stage race in North America with that designation.ddddddddddddThe womens race will involve four stages starting in South Lake Tahoe to Sacramento from May 11-14. ' ' '