Manchester City has posted its 2022/23 financial results, which sees the Premier League champions reveal a record revenue of £712.8m.
The impressive results follow a historic season for the Pep Guardiola’s team, in which the club became only the second English club to the win the treble of Premier League, FA Cup and Champions League.
The success is numerous competitions has contributed to a huge increase in profit which has reached £80.4m, a significant uplift of last year’s number, £41.7m.
The club’s financial statement reveals increases in all major revenue streams with broadcast revenues increasing 20.2% to £299.4m, due to the team playing the maximum number of matches in the top three competitions.
Manchester City Chairman, Khaldoon Al Mubarak, commented, “In short, last season saw Manchester City achieve the greatest football and commercial year of its storied history. The season was the validation of a philosophy and sustained approach that has defined the club since His Highness Sheikh Mansour became its custodian in 2008.
“It’s an approach that has always respected, and continuously built upon, the club’s near 130- year history. It is founded on three key elements: putting in place all the necessary ingredients to create football teams that excite, entertain and win silverware; relentlessly strengthening the club’s sustainable commercial and financial positions; and maximising its ability to serve the growing communities of which it sits at the heart. We regard each of these elements as equally important and completely co-dependent on one another.
“Behind the first team trophies and financial headlines, and against these three areas of focus, there sit less obvious, but equally important, outcomes. For our Ownership, Board and Executive Leadership these outcomes and their associated metrics demonstrate that the club has never been stronger, nor had greater potential to continue to evolve and succeed.”
The record £712.8m revenue exceeds the record £648.4m posted last month by Manchester United and is a £99.8m rise on the previous year.
The club made £121.7m profit on player trading in the financial year, while its wage bill rose by almost £70m to £422.89m. The club stated that it is committed to more than £262m in ‘transfer fees, signing on fees and loyalty bonuses’ if set conditions are met.
City’s latest figures continue to be overshadowed by the Premier League 115 charges still held against the club over breaches of financial rules. City was referred to a commission back in February but the club has reiterated its stance, claiming that it ‘welcomes’ the review and that it has ‘irrefutable evidence’ to support its position.
MAN CITY AGREES A SURE DEAL
Subscribe to the Sport Industry Daily for regular updates on the biggest stories and latest news in the sport industry.
