Man City posts record revenue as FFP investigation continues

Manchester City has revealed a total revenue of $886 million during the 2022/23 financial year while the Financial Fair Play investigation rages on. The massive earnings set a new club and Premier League record. Crosstown rivals Manchester United only just broke the division’s record when they posted revenue of $783 million in October. City’s latest figures are also a $124 million rise compared to the previous year.

The impressive revenue numbers come after the club collected Premier League, Champions League, and FA Cup trophies. Only one other team completed the rare feat dubbed the Treble. United triumphed in all three aforementioned competitions in the 1998/99 season.

City’s wage bill rose by nearly $87 million compared to the previous campaign. However, the club offset this increase thanks to a 20% increase in broadcasting income, as well as making several player sales. City actually posted a positive net gain in transfers during the 2022/23. Sales of Gabriel Jesus, Raheem Sterling and Oleksandr Zinchenko fueled this. Many of the club’s transfers during the summer of 2023 came after the deadline for the latest financial report.

Club chairman praises latest financial findings

“In short, last season saw Manchester City achieve the greatest football and commercial year of its storied history,” stated City chairman Khaldoon Al Mubarak on Wednesday. “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.”

“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…

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Author : Chris Moore

Publish date : 2023-11-15 17:28:12

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