In a stunning financial display, Manchester City has set a new Premier League record for revenue, reaching an impressive £712.8 million during the 2022-23 financial year.
This remarkable figure surpasses the previous record set by cross-town rivals Manchester United just last month and marks a substantial £99.8 million increase from the previous year.
The financial success comes on the heels of an extraordinary season for Manchester City, during which they achieved a historic Treble by winning the Premier League, FA Cup, and Champions League.
This achievement places City in an elite category alongside Manchester United, who accomplished a similar feat in 1999.
City’s financial statement reveals several noteworthy highlights, showcasing the club’s robust financial health.
The reported profit of £80.4 million is a significant leap from the previous year’s club record of £41.7 million.
All major revenue streams experienced growth, with broadcast revenues increasing by 20.2% to £299.4 million. The club attributes this surge primarily to their success in the Champions League and FA Cup.
However, amidst the financial triumph, the report acknowledges potential challenges and uncertainties that could impact the club’s performance.
Notably, the 115 financial charges issued against Manchester City by the Premier League in February 2023 are highlighted.
The charges, alleged breaches of financial rules from 2009 to 2018, could result in punishments ranging from fines and points deductions to expulsion from the Premier League.
Despite these challenges, the club maintains its denial of any financial wrongdoing.
Manchester City’s Chairman, Khaldoon al-Mubarak, addressed the financial achievements, emphasizing the importance of building on proven philosophies and practices.
Al-Mubarak expressed confidence in the club’s ability to innovate continually, both on and off the field, to reach new levels of performance.
He underscored the interconnectedness of financial health and on-field success, creating a promising future for everyone associated with Manchester City.
City’s financial report also outlines a rise in the wage bill by nearly £70 million, reaching £422.89 million. Additionally, the club is committed to over £262 million in transfer fees, signing on fees, and loyalty bonuses, subject to specific conditions being met.
Despite these financial commitments, the club reported a substantial £121.7 million profit on player trading during the 2022-23 financial year.:
Manchester City’s record-breaking revenue is a testament to the club’s exceptional on-field success and robust financial management.
As they navigate potential challenges and uncertainties, the club remains committed to building on its achievements and pushing the boundaries of innovation.
The future looks promising for Manchester City, as they continue to set new standards in both footballing excellence and financial prowess.