Manchester City posted record revenues for a Premier League club last season as the champions’ income increased to £715 million ($903 million).
As City marched to an unprecedented fourth successive Premier League title last term, their revenue rose from £712.8million to the new record mark for the year to June 30.
However, profits dipped from £80.4 million in City’s treble-winning 2022-23 campaign to £73.8 million last season.
They experienced a drop in broadcast income due to Pep Guardiola’s side failing to repeat their run to win a first Champions League crown in 2023.
City’s current investments include a £300 million expansion of the north stand of the Etihad Stadium.
Chairman Khaldoon Al Mubarak said in the club’s annual report: “Our constant ambition to target and achieve the unprecedented is a mark of the organisation that we have become.
“On and off the field, our passion for the next challenge is underpinned by deliberate and detailed planning and a shared belief in the collaborative learning culture that we have built.
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“Our focus remains on further evolution and growth and therefore further value creation in all aspects of our business” chairman Khaldoon Al Mubarak said in a statement in the report. “That holistic approach meant that last year the club also achieved its highest-ever revenues.”
The Citizens revenue was £2.2 million ($2.88 million) higher than the previous season, though the club’s profit slipped 8% from 2022-23 to a still-impressive £73.8 million ($93.2 million). The biggest gain in sales was in matchday revenue, which ticked up 5% to £75.6 million ($95.4 million). The bulk of City’s revenue comes from commercial activity and broadcasting income.
In addition to four straight EPL titles, last season saw City become the first club to hold concurrent titles in the FA Cup, UEFA Champions League, FIFA Club World Cup and UEFA Super Cup, in addition to the Premier League trophy. The club does appear to have lost its crown as soccer’s biggest revenue club, with Real Madrid having surpassed more than $1 billion in revenue in its last season, according to financial information compiled by Swiss Ramble, a soccer finances researcher.
Still, the club has seen strong revenue growth over recent years, with sales growing 50% over the past five seasons.
Beaten by Juventus in the Champions League on Wednesday, City face Manchester United in the Premier League on Sunday as they try to halt a damaging run of one win in 10 games in all competitions.
They are in danger of failing to make the Champions League last 16 and sit eight points behind Premier League leaders Liverpool after their shocking slump.
City are awaiting a decision on the 115 charges of alleged breaches of financial rules brought against them by the Premier League.
The club, who have strongly denied the charges, could face a points deduction or even relegation from the top-flight if they are found guilty.
