Manchester City: Premier League club announces £715m record revenue
Manchester City announced that its latest accounts revenue reached 715 million pounds as of June 30, 2024, a record revenue for the Premier League.
Although they were unable to repeat their historic treble victory in 2023, City’s unprecedented fourth consecutive English title, with wins in the Club World Cup and UEFA Super Cup, meant revenue still rose by £2.2m from £712.8m. GBP. This is the best ever.
Wages fell by £10.3m to £412.6m as City’s overall pre-tax profit was £73.8m. Commercial revenue increased slightly from £341.4 million to £344.7 million.
Manchester City has made a profit every season since the 2014-15 season, except for the 2019-20 season that was affected by the new crown epidemic.
In addition, they confirmed a total profit of £92.8m from transfer operations completed since the end of June, which included the sales of Argentina forward Julian Alvarez, defender Joao Cancelo and forward Liam Delap .
It means they are well placed to strengthen manager Pep Guardiola’s side during next month’s transfer window if, as expected, it is decided that reinforcements are needed at the end of their run. Only one win in 10 consecutive games.
“Our constant pursuit of goals and achieving unprecedented goals is a hallmark of the organization we have achieved,” Manchester City chairman Mubarak said in his assessment, which was written before the club endured its worst performance under Guardiola. of.
“On and off the pitch, our enthusiasm for our next challenge is underpinned by thoughtful and detailed planning and a shared belief in the collaborative learning culture we have built.
“This organizational approach is now part of our DNA. It is the product of unwavering continuous improvement in all aspects of the organization since His Highness Sheikh Mansour became the club’s administrator in 2008.”
This belief is being tested like never before.
this Champions League loss to Juventus Wednesday’s game leaves City with a real risk of missing out on a play-off spot. Manchester City will earn £111.8m from the competition by winning it in 2023 alone.
They go into Sunday’s Manchester derby at the Etihad Stadium with Manchester United, who are fourth in the Premier League, eight points behind leaders Liverpool, who also have a game in hand.
Chief executive Ferran Soriano said: “Winning the Treble last season has not created any sense of complacency in our squad on and off the pitch.”
“We are very aware that the relentless pursuit of beautiful football, operational excellence and constant innovation requires hard work and resilience.”
The accounts make no mention of Manchester City’s Recent battles with the Premier League Regarding related party transaction (APT) rules and only a brief mention of Manchester City’s ongoing case with the Premier League 115 alleged breaches of financial rules.
In this regard, the financial statement reads: “On February 6, 2023, in accordance with Premier League Rule W.82.1, the Premier League referred multiple allegations of Manchester City’s alleged breaches of Premier League Rules to the Committee under Premier League Rule W. 3.4. February 2023, In response to the allegations, the club issued a public statement welcoming the independent committee’s review of the matter to impartially consider the full range of irrefutable evidence supporting its allegations.”
BBC Sport asked the club about an increase in “group corporate debts” in the latest accounts to £267.4m, up from £151.4m in 2023. “Other external costs” also increased from £124m in 2022 to £172.4m.
The club is undergoing a £300 million North Stand expansion project that will increase the Etihad Stadium’s capacity to 60,000 ahead of Euro 2028. Carlton also confirmed that a new women’s training facility will open during the 2025-26 season.
