Premier League club Manchester City has shattered the £500 revenue barrier as the club has seen a 44% increase in its earnings over the past five years and ended the fourth successive year in profits.
Manchester City in its annual report for FY 2017-18 has confirmed a record revenue of £500.5 million, which is a 44% increase in five years. The club has reported a profit of £10.4 million during the fiscal year. The fourth successive year in profits has also ensured the club a slightly healthy wage-revenue ratio of 52%.
Manchester City Football Club has on Thursday released its Annual Report for 2017-18, announcing revenues of more than £500 million for the first time in City history, and the tenth successive year of improved financial performance. The Club enters its fourth consecutive year as a profitable business, posting a profit of £10 million, confirms the report.
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It was a record-breaking year for Manchester City on the field too, with performances by the men’s team breaking more than 25 records including most goals scored and most games won, as well as being the first top-flight team in football league history to reach 100 points, the club has stated while releasing the report.
Chairman Khaldoon Al Mubarak attributed the growth to the Club’s development since 2008. “Most of the developments visible today are the result of a carefully crafted strategy- one in which organic evolution has also been allowed to thrive,” he asserted.
The club chairman also highlighted Manchester City’s positive financial performance over the past season, pointing to the breaking of the £500M barrier for the first time and the posting of a profit in excess of £10m, further commenting that “The 2017-18 season will go down in history because of the incredible football we all witnessed” and saying that “we are filled with an extraordinary sense of pride in the hard work of Pep Guardiola, the players, and the staff who work tirelessly to support them.”
Manchester City, CEO Ferran Soriano stated’ “Proud of our performances and of the trophies won, but equally recognise[s] the process by which they were achieved” as he called the season a “remarkable campaign”. He looks to the future saying, “We recognise that the sporting challenge continues. Consistent domestic success and further development in the Champions League will be our focus in 2018-19 and the seasons to come”.
The Chairman concludes his message, reflecting that “Our aim is obviously to build on the achievements of the last year.” And stating that “We will always strive for more. Our journey is not complete and we have more targets to fulfil. There should be no doubt that we are looking forward to the challenges of the new season and those beyond it with equal commitment and determination to the ten seasons that came before.”
The Club has also published a ‘Decade in Data’, following Manchester City’s decade long club-wide transformation through statistics following the investment of His Highness Sheikh Mansour’s acquisition of the club in September 2008.