Sat, 07 Dec 2019

Man City's revenue rises to €535 million

News24
20 Nov 2019, 04:12 GMT+10

London - Manchester City's on-field success saw the club's revenues swell to Pound 535 million last season as the Premier League champions posted a profit for the fifth straight year.

A 20 percent surge in broadcast revenue saw City's income rise from Pound 500.5 million in the 2017/18 season.

Pep Guardiola's men completed an unprecedented quadruple of England's domestic trophies by winning the Premier League, FA Cup, League Cup and Community Shield.

The sale of a host of players unable to break into the first team helped boost profits to Pound 10.1 million.

Prior to Sheikh Mansour's takeover of City in 2008, the club's revenue was a mere Pound 87 million.

Huge losses of over Pound 584 million followed during the first six years of their ownership due to massive investment in the playing squad and facilities, including the Pound 200 million Etihad Campus training ground.

However, a boom in commercial and broadcast revenue brought about by continued qualification for the Champions League and four Premier League titles in the past eight seasons has seen City post a profit in each of the past five years.

"As intended by His Highness Sheikh Mansour, our organisation is now at a level of maturity that enables us to plan on multi-year cycles both in terms of our management of squads and more widely across the business," City chairman Khaldoon Al Mubarak said in a statement.

"This strategic planning has allowed us to create an environment in which continued on-pitch success is both possible and likely, and financial sustainability is a reality."

City's income is still dwarfed by local rivals Manchester United's Pound 627 million revenue for the 2018/19 season.

However, the gap between the two will be significantly closer this season with United expecting their income to fall to between Pound 560-Pound 580 million due to a lack of Champions League football.

City's figures for this season will also be bolstered by a club record kit deal with Puma worth a reported Pound 65 million a season over the next 10 years.

However, the club are still under scrutiny due to an investigation from UEFA into alleged breaches of financial fair play (FFP).

The investigation into City is based on leaked emails published last year by German magazine Der Spiegel that City flouted FFP regulations by inflating the value of sponsorship deals.

Possible punishments include a ban from the Champions League, a transfer ban or a fine.

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