Manchester City are in the money again – and in a big way.
The Premier League champions released its Annual Report for the 2022/23 season confirming a second successive year of record revenues and profits.
Not only that, but it beats the 648.4m rivals Man United posted in October – setting a new Premier League record.
City have reported revenues of £712.8 million, an increase of £99.8m on the previous twelve months, and profits of £80.4m, which is nearly double record of £41.7m the previous year.
Last season, the club was named the most valuable football club brand in the world, topping the 2023 Brand Finance Football 50 report for the first time ever with a brand value of €1.51 billion.
It all comes following the historic treble winning season that saw the club win the Premier League, FA Cup and Champions League, following in the success of United, who did the same in 1999.
“In short, last season saw Manchester City achieve the greatest football and commercial year of its storied history,” City chairman Khaldoon al-Mubarak said.
“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.
“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.”
With the club boasting some of the world’s best players in Erling Haaland, Kevin De Bruyne plus high profile summer transfers of Jeremy Doku and Mateo Kovacic, City’s wage bill rose by almost £70m to £422.89m.