Manchester City lifting Champions League trophy
Manchester City, on Wednesday, announced record-breaking revenue of £712.8 million ($888 million) for their treble-winning season – far outstripping the previous mark reported by Manchester United last month.
The Premier League and European champions reported an increase of nearly £100 million in revenue for the 2022/23 financial year compared with the previous year as profits nearly doubled to £80.4 million.
United, who have been in City’s shadow for a decade, announced a Premier League revenue record figure of £648.4 million in late October.
Pep Guardiola’s men last season became the second English club after United in 1999 to win the Champions League, Premier League, and FA Cup in a single season.
City, who topped Deloitte’s 2023 Football Money League, received broadcast revenue in the year to June 30 of nearly £300 million, boosted by their success in Europe.
The club’s wage bill rose by nearly £70 million to just under £423 million and they made a profit of almost £122 million on player trading.
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However, the club’s annual report mentioned the 115 charges issued against them by the Premier League in February under the “Risks and Uncertainties” section.
“The board acknowledges that there are a number of risks and uncertainties which could have a material impact on the club’s performance,” it said.
Introductory statements in the report from chairman Khaldoon Al Mubarak and chief executive Ferran Soriano made no reference to the charges.
Khaldoon said: “In the aftermath of the UEFA Champions League win in Turkey and the completion of ‘The Treble’ the question I was asked most often, was ‘How do you top that?’
“The answer is by doubling down on the proven philosophies and practices that have brought us this success and to challenge ourselves to continue to constantly innovate in order to achieve new levels of performance both on and off the field.
“We will continue to question all the industry norms, we will evaluate our successes and learn from any failures. We will not be afraid to set new goals and develop new strategies that deliver for our club, its communities and stakeholders and especially for the fans.”
City, chasing an unprecedented fourth English top-flight title, are top of the Premier League after 12 matches and have already qualified for the Champions League knockout stages.
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