Manchester City cut their financial losses en route to the Premier League title last season, leaving the English champions to believe they will not fall foul of UEFA`s Financial Fair Play regulations again.
Manchester City manager Manuel Pellegrini insists the club`s target of winning five trophies in five years isn`t important to him.
Coach John van`t Schip has signed a new three-year contract with A-League side Melbourne Heart, the club said on Wednesday.
The Etihad Stadium chief is adamant it was not a mistake to sack the Italian with two games remaining and believes the club will progress under their new manager.
The Premier League outfit have joined forces with the Major League Baseball franchise to acquire New York City Football Club - the 20th American club, set to commence in 2015.
The Premier League champions are seven points adrift of Manchester United at the top of the table but the Italian will not get a blank chequebook to ease his side`s troubles.
Day in Pics: 31st January
Showbiz World - January 31, 2015
Playboy Super Bowl XLIX Party