Treble triumph boosts Manchester City to record revenue and profits
Manchester City Football Club has reported revenues of £712.8 million, an increase of £99.8 million on the previous twelve months, and profits of £80.4 million, nearly double that of the previous year’s record of £41.7 million.
Player sales of £121m for the year, including of Raheem Sterling to Chelsea and Gabriel Jesus to Arsenal, as well as the release of youth academy graduates also boosted the figures from £67m in the previous financial year.
But the club maintains that income streams from commercial, broadcast and matchday all showed significant year-on-year growth, reflecting “continued commercial momentum of recent years, the outcome of the ongoing delivery of a multi-decade strategy.”
The club is also highlighting its naming as “most valuable football club brand in the world”, in the 2023 Brand Finance Football 50 report for the first time, which values City at €1.51 billion.
On the football front, the men’s team secured a place in football history in winning a first UEFA Champions League, a third successive Premier League title – a fifth in six years – and a seventh FA Cup, in a season that yielded a win percentage in excess of 72% in all competitions, and a string of individual accolades for the men’s players.
Earlier this year Manchester City Council planning committee approved proposals for a £300m stadium extension, taking the capacity to 62,500, and a new hotel at the North Stand.
But looming over City are the Premier League’s 100 charges filed against City related to alleged financial irregularities.
In 2020 UEFA ruled that City had committed “serious breaches” of FFP regulations between 2012 and 2016, but a subsequent two-year ban from European competitions was overturned by the Court of Arbitration for Sport (Cas) later that year.
The latest matter has been referred to an independent commission. Sanctions against the club could include a fine, points deductions, or expelling the club from the Premier League.
Responding to the allegations at the time, the club said it welcomed the review of this matter by an independent commission, to impartially consider the comprehensive body of irrefutable evidence that exists in support of its position, adding: “As such we look forward to this matter being put to rest once and for all.”
The club has also invested heavily into its own content channels, boasting a total of 6.9 billion video views on the City’s main social media accounts, an increase of 107% on the previous year, the number of Official Cityzens Members almost doubled, and membership of the Official Supporters Club grew by 33%.
Alongside social media and membership growth another best-ever year for TV viewing figures was recorded, with the Club’s total audience reaching 786 million across all competitions, 28% higher than the 2021-22 season.
Chairman, Khaldoon Al Mubarak, said: “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 of 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.”
He added: “Success today simply means further investment for tomorrow. Our financial health and on field success mean everyone connected to Manchester City can look forward to the future with excitement. Our collective achievements give me huge confidence that together we can accomplish even more in the years to come.”
