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/RobHarrisReportsCustom Pittsburgh Pirates Nike JerseysCustom Seattle Mariners Nike Jerseys . 10 VCU 85-67 on Thursday night at the Puerto Rico Tip-Off. The Seminoles (4-0) have scored at least 80 points in each of their games. https://www.custombaseballnikejerseys.com/?tag=custom-chicago-cubs-nike-jerseys . Goals from Jerome Boateng, Franck Ribery and Thomas Mueller extended Bayerns unbeaten run to a record 37 matches. "This record is incredible," Bayern coach Pep Guardiola said. Custom San Diego Padres Nike Jerseys . - Chris Tierney snapped a tie with a power-play goal late in the third period as the London Knights rallied from a 3-0 deficit to beat the Erie Otters 5-3 in Ontario Hockey League action on Wednesday. Custom Los Angeles Dodgers Nike Jerseys . "Thank you for the warm welcome," Beckham said on an 80-degree February morning. In this case, it was soccer weather. The sport moved a step closer to returning to South Florida on Wednesday, when Beckham confirmed he has exercised his option to purchase a Major League Soccer expansion franchise in Miami.TEMPE, Ariz. -- Florida led by 12 points entering the fourth quarter when Arizona State came alive and outscored the Gators by 18 and earned a 69-63 win in the Arizona State Classic title game played Sunday at Wells Fargo Arena in Tempe.Entering the deciding fourth quarter, the Sun Devils had shot a mere 26.4 percent (14-53) from the floor. During the final 10 minutes, ASU converted 13-of-14 from the floor (92.9 percent), held UF to 35.3 percent (6-17) and outrebounded the Gators, 10-5.With Florida leading 57-50 and five minutes to play, the Sun Devils ended the game with a 19-6 run.The Gators frontcourt struggled with foul trouble all game long, as their three primary posts each had two personals less than 13 minutes into the game. That eventually caught up with their paint defense in the fourth quarter when the Sun Devils had their way inside.Sophomore Eleanna Christinaki and freshman Sydney Searcy were the only Gators to score in double-figures with 18 and 11, respectively. For Searcy, who hit all four of her field goal attempts, it was a career-best output.How it Happened With the game tied at halftime, Florida outscored ASU, 21-9, in the third quarter by converting 57.1 percent (8-14) of its shots and seemed to have the momentum, as the hosts managed to shoot just 13.3 percent (2-15).The Sun Devils began the crucial fourth quarter scoring the first seven points and were within five points with 8:14 remaining. The team traded scores for the next three-plus minutes before Arizona State made its final game-ended run to capture its home tournament title.Updated Team Records:Florida: 6-2Arizona State: 5-2National Rankings:Florida: No. 19 Associated Press; No. 23 USA Today/WBCAArizona State: receiving votes in AP; No. 24 USA Today/WBCADouble-Digit GatorsChristinakis 18 points were a game-high and her 24th career double-figure scoring gameSearcys 11 points were two more than her previous career-best number for the first double-figure scoring game of her young careerIndividual Numbers of NoteJunior Haley Lorenzen topped the 600-point plateau during the game.Lorenzen just missed the first double-double of her career with nine points and a season-high nine rebounds.Junior Dyandria Anderson scored her 250th career point and dished her 100th career assist during the game.Ronni Williams, who scored eight points with six reboounds, four assists and three steals on Sunday, was named to the Arizona State Classic All-Tournament Team.dddddddddddd.Numbers of NoteFloridas 63 points were its fewest this season; was 68 in a loss a Northwestern.Florida was outrebounded for the first time this year (40-36).UF managed just six offensive rebounds after entering the game averaging 16.3 per game.Both of Floridas losses this season have come when being outscored in the fourth quarter.The Gators are now 1-2 in games decided by seven points or less.Gators in the Grand Canyon StateSundays game was Floridas fifth in the state of Arizona and just the first against a team from the state.The last time the Gators played in the state of Arizona was back on March 18, 2006, when UF lost to New Mexico in the first round of the NCAA Tournament played in Tucson.The two tournament games in the ASU Classic are the last the Gators will be playing outside the state of Florida during the calendar year!Quoting UF Head Coach Amanda Butler Were going to have to look at the film and there are going to be a lot of things well be disappointed when we see. We didnt do a very good job of defending the low block and I dont mean thats one persons responsibility. Theres no way the ball is supposed to go directly into the low block so we got caught behind a lot. We didnt do a very good job of transitioning back into our zone. Our guards started getting a little bit tired and jogging. Arizona State is a good team and they made us pay when we took plays off.This was a great test of our toughness. Thats what we talked about at halftime. I think we came out in the third quarter and showed how tough we are and then we just werent able to sustain it.It (this tournament) was a challenge and thats something we have to get better at - playing with more discipline and making good decisions.We got beat by a good team. This is a top-25 program. This is a chance for us to grow. Im sure the film will show us a lot of ways we have to get better if we want to beat this caliber of team on the road.Whats Next for the GatorsWho: No. 19/23 Florida (6-2) at No. 8 Florida State (8-1)When: Thur., December 8 * 6 p.m. ETWhere: Donald L. Tucker Center (12,100) * Tallahassee, Fla. ' ' '